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Czech Billionaire Daniel Kretinsky's Offer to Royal Mail Staff

Thousands of Royal Mail staff have been asked by Czech billionaire Daniel Kretinsky to sell their shares. Kretinsky aims to buy Royal Mail's parent company and needs the support of 75% of shareholders, although he already owns 27.5%. Kretinsky has offered 370p per share, promising to maintain the Royal Mail logo, UK headquarters, and existing employment agreements.
Thousands of former and current Royal Mail staff have been approached to sell their shares to Czech billionaire Daniel Kretinsky.

On Wednesday morning, Kretinsky’s investment group issued a formal offer to buy Royal Mail's parent company, International Distribution Services (IDS).

Kretinsky needs the support of 75% of IDS shareholders, although he already owns 27.5%.

Major asset managers like Blackrock, UBS, Vanguard, and Schroders hold most of the remaining shares.

Royal Mail staff collectively own 5.5% of the shares, valued at nearly £200m.

Kretinsky, who made his fortune in energy and holds stakes in Sainsbury's and West Ham Football Club, has offered 370p per share, which is higher than the current trading price of 315p and significantly above the 220p before his initial offer.

The UK government retains the authority to block the deal due to Royal Mail's national importance.

Kretinsky's EP Group has promised to maintain the Royal Mail logo, UK headquarters, UK tax base, and existing employment agreements, without separating the profitable parcels business.

Former Royal Mail strategy director Nick Pendelton believes this acquisition decision will be substantial for many.

Chancellor Jeremy Hunt stated the deal would undergo standard scrutiny but was not opposed “in principle.” Shadow Business Secretary Jonathan Reynolds and the Communication Workers Union are seeking assurances on the company’s future sustainability and worker collaboration.

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