Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Czech billionaire’s Royal Mail stake under national security review

Czech billionaire’s Royal Mail stake under national security review

Daniel Křetínský-controlled Vesa Equity Investment could increase its shareholding to more than 25%

Ministers are to conduct a national security review into the ownership of Royal Mail, after it emerged the Czech billionaire who is the 500-year-old postal firm’s largest shareholder has increased his stake.

The intervention came as Royal Mail executives braced for the first of four days of national strike action over pay and conditions, with members of the Communication Workers Union set to walk out on Friday.

The company said it has received a notification from the government that its top shareholder, Vesa Equity Investment, could increase its stake to more than 25%. Vesa is controlled by Daniel Křetínský, whose financial holdings also include Sainsbury’s and West Ham United.

In a statement to the Stock Exchange, Royal Mail added: “The secretary of state has notified Royal Mail that such a step would constitute a trigger event under the NSI Act [National Security and Investment Act] and that he is exercising his call-in power under section 1 of the NSI Act.

“Royal Mail will fully cooperate with this review and a further announcement will be made as and when appropriate.”

Vesa, which is the company’s largest shareholder, has confirmed it had set out its intention to take its stake above 25% on 13 July. Vesa held 22% of the company in its most recent disclosure in July.

Křetínský, known as the “Czech sphinx” for his low public profile, has not commented in detail on his intentions for Royal Mail since he became its largest shareholder in 2020.

The businessman, whose interests have spanned coal, gas and media, saw the value of the holding soar during the pandemic as Royal Mail benefited from the boom in online shopping and the delivery of testing kits.

Křetínský’s move to increase his Royal Mail stake will trigger speculation that he has designs on a full takeover of the group.

Any acquisition attempt could be politically fraught given the tycoon’s links to the Russian state gas operator, Gazprom. His EP Infrastructure (EPIF) business owns a 49% holding in Eustream, which operates a system piping Russian gas to central and eastern Europe through Slovakia.

Křetínský, 46, also owns Sparta Prague football club, and is estimated to be worth about £3bn. His girlfriend is the champion show jumper Anna Kellnerová, 25, the daughter of the late Czech businessman Petr Kellner, who was once the country’s richest person.

In November, Royal Mail paid out a £400m dividend to investors including Vesa. However, the company has seen its stock fall by nearly 50% this year. The stock rose 1.5% to 265.8p on Thursday after the announcement.

The announcement comes just a day before Royal Mail staff prepare to go on their first strike since 2009.

Royal Mail employees will begin 24 hours of strike action at 4am on Friday and will strike again next Wednesday, before further action on 8-9 September. It has been estimated that the action will cost the company, which which employs 115,000 people, £100m, with each day costing £10m in letter, and £15m in parcel, revenue.

Staff have been handed a 2% pay rise, backdated to April, and a further 3.5% increase if they agree to changes in working practices. Staff stand opposed to these changes and argue they should receive pay hikes with no strings attached.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
European Commission Plans Purchase Incentives Limited to Vehicles Manufactured Largely in the EU
French District of Pas-de-Calais Introduces Immediate License Suspension for Drivers Using Mobile Phones
Volkswagen Targets €60 Billion in Cost Reductions as Sales Decline and Global Pressures Intensify
Eighty-Year-Old Lottery Winner Sentenced to 16.5 Years for Drug Trafficking
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
Heineken announces cut of 6,000 jobs due to declining beer demand
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Global Shifts in War, Trade, Energy and Security Mark Major International Developments
Markets Jolt as AI Spending, US Policy Shifts, and Global Security Moves Drive New Volatility
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
×