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Royal Mail sold to Czech billionaire 'Sphinx' for £3.5bn
Daily Express
|May 30, 2024
ROYAL Mail bosses have accepted a £3.57billion takeover by a Czech billionaire nicknamed The Sphinx.
Energy tycoon Daniel Kretinsky, 48, is also a major shareholder in Sainsbury's and West Ham United, known for an inscrutable nature and for protecting his privacy.
He will pay £3.70 a share for Royal Mail owner International Distribution Services with his EP Group giving "contractual commitments and intentions" to protect the parts of the carrier's business that perform a public service.
Kretinsky's personal fortune is estimated at £5.7billion.
Royal Mail will keep its branding, its UK headquarters and obligation to a one-price nationwide first-class post six days a week.
IDS claimed there is "no intention to make any material changes to overall headcount" or reductions in frontline workers.
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