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
The Billion-Dollar Inheritance and the Death on the Railway Tracks: The Scandal Shaking Europe
World’s Cleanest Countries 2025 Ranked by Air, Water, Waste, and Hygiene Standards
Denmark Revives EU ‘Chat Control’ Proposal for Encrypted Message Scanning
Perplexity makes unsolicited $34.5 billion all-cash offer for Google’s Chrome browser
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Taylor Swift announces 12th studio album on Travis Kelce’s podcast after high-profile year together
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Sam Altman challenges Elon Musk with plans for Neuralink rival
Trump and Putin Meeting: Focus on Listening and Communication
Instagram Released a New Feature – and Sent Users Into a Panic
China Accuses: Nvidia Chips Are U.S. Espionage Tools
Mercedes’ CEO Is Killing Germany’s Auto Legacy
US Postal Service Targets Unregulated Vape Distributors in Crackdown
RFK Jr. Announces HHS Investigation into Big Pharma Incentives to Doctors
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Security flaws in a carmaker’s web portal let one hacker remotely unlock cars from anywhere
Denmark Pushes for Child Sexual Abuse Scanning Bill in EU, Could Be Adopted by October 2025
Street justice isn’t pretty but how else do you deal with this kind of insanity? Sometimes someone needs to standup and say something
Armenia and Azerbaijan sign U.S.-brokered accord at White House outlining transit link via southern Armenia
Barcelona Resolves Captaincy Issue with Marc-André ter Stegen
US Justice Department Seeks Release of Epstein and Maxwell Grand Jury Exhibits Amid Legal and Victim Challenges
Spain Scraps F-35 Jet Deal as Trump Pushes for More NATO Spending
France Faces Largest Wildfire Since 1949 as Blazes Rage Across Aude
French Senate Report Alleges State Cover‑Up in Perrier ‘Natural Mineral Water’ Scandal
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Britain's Online Safety Law Sparks Outcry Over Privacy, Free Speech, and Mass Surveillance
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
German Finance Minister Criticizes Trump’s Attacks on Institutions
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
×