Head Topics

Royal Mail at centre of takeover bid by Czech billionaire

  • 📰 NorthamptonUK
  • ⏱ Reading Time:
  • 25 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

UK & World News News

Tendendo

The move comes weeks after the Royal Mail put forward plans for a major shake-up in its second class postal service as it tries to make it cost effective

A Czech bilionaire has made a takeover bid for the Royal Mail, it was confirmed on Tuesday. International Distribution Services which owns the service saw shares rocket after it was revealed the group turned down the approach from shareholder Daniel Kretinsky.

The group said: “It does not reflect the growth potential and prospects of the company under a new management team, a significant modernisation programme underway at Royal Mail, and the ongoing review by Ofcom in relation to the Future of the Universal Service Obligation.” EP Group said it acknowledged the “challenging situation” faced by Royal Mail. However it said it would be prepared to support “this iconic business as it transforms and rebuilds into a modern postal operator”.

Tendendo

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 99. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

When stamp prices go up in April, and how much they will costRoyal Mail cites rising costs as a reason behind the third price increase in a year
Source: i newspaper - 🏆 8. / 89 Read more »

Royal Mail owner International Distribution Services rejects Daniel Kretinsky takeover but another bid is being exploredThe bid has come at a key moment for Royal Mail's parent company.
Source: SkyNews - 🏆 35. / 67 Read more »

China accused over forging stamps that are made in WolverhamptonChina is accused of flooding Britain with forgeries of official West Midland-produced Royal Mail stamps.
Source: ShropshireStar - 🏆 98. / 51 Read more »

Royal Mail new stamps launched to mark 100th anniversaryRoyal Mail's special stamps have helped to celebrate significant events in the UK’s history
Source: Observer_Owl - 🏆 18. / 72 Read more »

Royal Mail changes explained amid plans to cut deliveriesMajor changes have been proposed as Royal Mail looks to slash costs
Source: nottslive - 🏆 96. / 52 Read more »

Glasgow police issued urgent warning about Royal Mail scamGlasgow police have issued an urgent warning about a Royal Mail scam circulating the community
Source: Glasgow_Times - 🏆 76. / 59 Read more »