Daniel Kretinsky: Business Secretary Jonathan Reynolds said that EP Group agreed to safeguard Royal Mail’s postal infrastructure, and that he had obtained a ‘golden share’ that would guarantee the company’s base remained in Britain and that it remained tax-contributing within the UK.
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Daniel Kretinsky buy Royal Mail Uk
It will give thousands of workers and customers a sound future and will guarantee a financially sound future to Royal Mail.
EP also announced on Monday that it has reached, in principle, agreements with Royal Mail’s unions.
While current obligations remain to maintain Ford’s brand image and Royal Mail’s Crown cypher as the company evolved from history since the sixteenth century.
Reynolds argued that it wouldn’t affect Britain positively, for the people who work for Royal Mail positively and for customers positively too.
It actually increases what was in place following the privatisation of Royal Mail, with a golden share for the UK government,” he told broadcasters.
Kretinsky, a former lawyer with investment bank, who has assembled one of Europe’s largest energy conglomerates, Energeticky a Prumyslovy Holding (EPH), is also expanding into different sectors including retail, and media.
He said that EP Group was very much a long term strategic shareholder with the vision of turning Royal Mail into a successful modern postal service provider.
“We eagerly expect the opportunity to achieve this mission together with our partners in government,” he said in a statement.
Royal Mail was privatised in 2013 through a £3.3 billion state sell off at an offer price of 330pence per share.
Kretinsky has been the biggest shareholder of IDS which owns both Royal Mail and the international parcel network GLS.
The agreement to the takeover was arrived at in May and shares in IDS were valued at 370 pence. Part of the deal was to implement a ‘one-price goes anywhere’ postal service reachable six days a week, which Monday’s confirmation promised to offer.
However, it is pointed out that the deal is contingent on some final approval from various share holders and some regulators. It is expected to be delivered in the first quarter of 2025, said EP.
($1 = 0.7902 pounds)
Who is Daniel Kretinsky?
Daniel Kretinsky, a Czech billionaire businessman, lawyer, and investor, was born in 1960 in Brno, an eastern city of the Czech Republic and was growing up during the gradual disintegration of communism. He is also credited for his broad ranging deals and takeovers across energy, media, retail and football clubs.
The billionaire owns EPH, a Central European energy concern, with power plants, gas infrastructure, and other assets across Europe according to Independent.
Mr Kretinsky also invested in the media sector having stakes in some of the most popular newspapers.
He has large investments in Le Monde of France, Elle Magazine and Marianne, to mention but a few. He is also a famous football businessman owning several clubs and having 27% of the West Ham United club and his favorite Sparta Prague.
With sports investments, Mr Kretinsky also owns several legendary British brands. He has a 10% interest in supermarket chain operator Sainsbury as well as a sizeable position in the sports wear firm Foot Locker. He also owns a quarter of the Velaa private island resort in the Maldives, a boutique accommodation of choice for the wealthy visitor.
In addition, he owns one of the biggest expensive houses anywhere in Britain. The following year, he acquired the 15- bedroom mansion known as Heath Hall in the rich neighborhood of Hampstead for 65 million Pounds. However, the mansion, as reported, has been in the past rented by pop star Justin Bieber when in one of his UK tours.
While Mr Kretinsky is one of the world’s richest men with an estimated fortune of $ 9 billion and an extensive business empire, he remains is little known outside the Czech Republic. He has been dubbed the Czech Sphinx because he wants to remain as visible as possible and because of his more business-like plan of operation.
However, Royal Mail will open up Mr Kretinsky to more attention in Britain after the purchase is complete. Last year, he granted Forbes an interview where he explained his business approach, noting Britain, France and Germany as his target markets. He also agreed and said that as his presence increases in these countries; such issues will crop up regarding his business.
Partners and partners describe him as a very smart, hardworking businessman who works for the organization’s staff members sending emails at midnight.
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