Daniel Kretinsky Nears Royal Mail Acquisition

Czech billionaire Daniel Kretinsky is nearing the completion of his £3.6 billion acquisition of Royal Mail, with an official announcement expected within the next two weeks. To secure the deal, Kretinsky has made significant concessions, including maintaining six-day letter deliveries, protecting the pension surplus, and ensuring no compulsory redundancies until 2025. The acquisition requires approval under the UK's National Security and Investment Act, but prior reviews have deemed Kretinsky a legitimate business figure despite concerns over his alleged ties to Russia. The board of International Distribution Services, Royal Mail's parent company, has recommended Kretinsky's offer to shareholders. Royal Mail has faced scrutiny over its delivery performance, falling short of regulatory standards, yet Kretinsky has expressed respect for the company's history and operations. If approved, this deal would mark a major shift in ownership for the historic postal service, which has struggled in the competitive market of parcel deliveries.