Royal Mail owner to be grilled by MPs over delivery performance Business The Czech Billionaire who took over the parent company of the postal service last year is expected to face questions about the company’s failure to meet performance targets. The Business and Trade Committee has called on Royal Mail owner Daniel Kretinsky to present evidence to MPs in response to “significant concerns” raised around the service’s [...]
Royal Mail owner set to return to profit in first figures since £3.6bn takeover Business The owner of Royal Mail is expected to show a return to annual earnings on Monday in the firm’s first set of results since the completion of its £3.6bn takeover by Czech billionaire Daniel Kretinsky. International Distribution Services (IDS) will post figures for the 12 months to 31 March after a milestone year for the [...]
Owners of London Stadium forced to pay West Ham United £3.6m Sport Business The owners of West Ham United’s London Stadium have been forced to cough up £3.6m after losing a court case against the Premier League club. E20 Stadium, set up by publicly-owned London Legacy Development Corporation (LLDC), must pay back the multi-million pound sum to the club after West Ham challenged a payment they made to [...]
Royal Mail IDS owner to return to profit as Kretinsky takes reins January 15, 2025 The owner of Royal Mail is set to return to profit just as its long drawn out sale to Daniel Kretinsky nears completion thanks to a welcome uplift in the number of parcels it delivered over Christmas. International Distribution Services (IDS) said Royal Mail’s “successful Christmas period” saw it process 188m tracked parcels, a 19 [...]
‘Czech Sphinx’ Royal Mail takeover signed off by government and unions December 16, 2024 The takeover of Royal Mail parent company International Distribution Services has been signed off by the government and unions, as EP Group is now set to officially gain control of the firm. The £3.6bn takeover by ‘the Czech Sphinx’, billionaire Daniel Kretinsky, was approved by shareholders in September, and was waiting on approval from the [...]
Vince Cable warns against bid by the ‘Czech Sphinx’ for Royal Mail December 15, 2024 Former business secretary Vince Cable has warned the Government not to wave through the sale of the Royal Mail to Czech tycoon Daniel Kretinsky, citing his links to Russia and the high amount of debt involved. Cable was the architect of the privatisation of the postal service in 2013, overseeing a £3.3bn deal which led [...]
Royal Mail: Shareholder rebellion threatens Czech Sphinx bid July 30, 2024 A shareholder rebellion has left Czech billionaire Daniel Kretinsky's £3.6bn bid for Royal Mail up in the air.
Here’s what the Czech Sphinx is planning for Royal Mail July 18, 2024 EP Group will offer a legally binding guarantee that there will be no change in control of GLS or Royal Mail for three years following the acquisition.
Royal Mail: Postal votes boost revenue at IDS as ‘Czech Sphinx’ Kretinsky commits to six-day service July 18, 2024 The owner of Royal Mail has pointed to record levels of postal votes and campaigning literature as being the forces behind sizeable increases in volumes and revenue, as its bidder re-committed to the universal service obligation for at least five years.
Royal Mail: Czech Sphinx’s six-day service pledge a litmus test for Labour July 16, 2024 The Labour party has promised to “robustly scrutinise” the first foreign takeover of the 500-year-old British institution.