Great Britain London approves billion-euro takeover of Royal Mail
The British government has approved the takeover of Royal Mail by Czech billionaire Daniel Kretinsky. This was confirmed by Business Secretary Jonathan Reynolds, as reported by the British news agency PA.
16.12.2024, 11:44
SDA
The company behind Royal Mail, International Distribution Services (IDS), is to change hands for 3.6 billion pounds (around 4.3 billion euros).
According to PA, the takeover agreement includes a number of concessions from the new majority shareholder. For example, the British government is to retain a so-called "golden share" in the company. The government has thus secured a right of veto on important issues such as the location of the company's headquarters and resale, according to the report.
According to reports, the conditions include the retention of uniform pricing, including the delivery of first-class letters six days a week. Employees are to receive a ten percent share of dividends from majority shareholder Kretinsky.
Royal Mail listed on the stock exchange since 2013
This is the first time that the national postal service in the UK has fallen into foreign hands. The Royal Mail can look back on more than 500 years of history. Founded by Henry VIII, the messengers initially only delivered correspondence from the king and his court. However, as early as the 17th century, the services of the Royal Mail became accessible to the public.
In 1840, the Royal Mail introduced the world's first postage stamp, the "Penny Black", which bore the likeness of Queen Victoria. Even then, uniform prices for mail items based on weight applied nationwide. For most of its history, the Royal Mail was owned by the state. It has been a listed company since 2013. The government's approval was necessary due to the national importance of the service.
