Wed, 30 Apr 2025

Wed, 30 Apr 2025 Royal Mail takeover approved by shareholders

The approval of the £3.6bn deal will see the 500-year institution taken over by Daniel Kretinsky's EP Group.

* Royal Mail's parent company, International Distribution Services (IDS), has been sold to Czech billionaire Daniel Kretinsky's EP Group in a £3.6bn deal.
* Over 80% of IDS shareholders voted in favour of the takeover, with Kretinsky committing to maintain the Universal Service Obligation (USO).
* The USO requires Royal Mail to deliver letters six days per week and parcels five days per week, and Kretinsky has pledged to uphold this obligation for as long as he owns Royal Mail.
* The sale comes after a review of the USO, which suggested reducing second-class deliveries to save up to £300m a year.
* However, some stakeholders have expressed concerns about the proposal, including the Greeting Card Association, which fears it could put pressure on small businesses that rely on first-class postal services.
* Kretinsky has a net worth of £6bn and owns stakes in companies such as West Ham United football club and Sainsbury's.
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