Starmer Government Sells Royal Mail
The buyer is a Czech company led by Daniel Kretinsky
Convinced that there were no threats to national security, the Starmer government gave the go-ahead for the sale of Royal Mail to Czech billionaire Daniel Kretinsky’s EP Group.
It’s a real piece of British history changing hands: Royal Mail has its origins in the postal services of the Tudor era, when Henry VIII ruled. It is the oldest postal service in the world and until 2006 it was always in public hands before the privatization process began in 2006 when the postal market was liberalized.
Royal Mail is now changing hands for a sum approaching £3.6 billion (€4.3 billion), and the acquisition should take several months to complete. The agreement has a commitment to keep the name known, protects employees, and establishes that a token number of shares remain in London, with veto power in the event of future sales.
Kretinsky, who owns Energeticky A Prumyslovy Holding, one of Europe’s largest energy companies, also pledged to keep the company’s registered office in the UK for at least five years. The Czech entrepreneur has other business in Britain: he owns 27% of the historic London football club West Ham United and 10% of the Sainsbury’s supermarket chain.
