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London CNN —The owner of Royal Mail has accepted a £3.5 billion ($4.5 billion) takeover bid from Czech billionaire Daniel Křetínský, paving the way for the sale of one of Britain’s oldest and most iconic institutions to a foreign owner for the first time. The deal follows a torrid few years for Royal Mail, which was privatized in 2013. “Royal Mail is as British as it gets, and Labour will take the necessary steps to safeguard its undeniable identity and place in public life,” he wrote in the letter, which he posted on X. A low-profile Czech national, Křetínský made his fortune through a sprawling empire of European energy companies, retailers and football clubs. He is worth an estimated $7.7 billion, according to the Bloomberg Billionaires Index, and owns a 27% stake in West Ham United Football Club.
Persons: Daniel Křetínský, Křetínský’s, Jonathan Reynolds, , Křetínský Organizations: London CNN, Royal Mail, Distribution Services, Labour Party, Conservative, Labour, Royal, Bloomberg, West Ham United Football Club Locations: Czech, United Kingdom, West
It has been operating a postal service in England since the reign of Henry VIII. EP Group has until May 29 to convert its £3.5 billion ($4.4 billion) non-biding offer into a formal bid for IDS. The likely sale would come after a difficult few years for Royal Mail, which was privatized in 2013. ‘As British as it gets’The potential buyout of Royal Mail has stirred anxieties about the consequences of the iconic British institution coming under foreign ownership. “Royal Mail is an important national asset that would benefit from being able to take a longer-term view,” the firm said.
Persons: Henry VIII, Daniel Křetínský, Křetínský, Patrik Tkáč, Rishi Sunak, Kemi Badenoch, Dave Ward, , ” Ward, Jonathan Reynolds, ” Ivana Kottasová Organizations: London CNN — Royal Mail, Distribution Services, IDS, Royal Mail, UK Department for Business, Trade, CNN, Bloomberg, Equity Investment, Newsweek, West Ham United Football Club, Reuters, Communication Workers Union, Labour Party, Royal, Labour Locations: England, Czech, British, United States, FNAC, France, United Kingdom, West
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. The chairman of West Ham United Football Club is listing a centuries-old London home after an extensive renovation for £75 million, or roughly $94.67 million.
Organizations: West Ham United Football Locations: London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWest Ham United's Baroness Brady on what it takes for women to succeedMarking International Women's Day 2023, the Vice-Chair of West Ham United Football Club tells CNBC's Tania Bryer her thoughts on the biggest issues facing women and girls today, the personal challenges she faced as a woman at the top of football and how she wants to help the Women's Super League grow.
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