Royal Mail’s sale to Czech billionaire Daniel Kretinsky has been cleared by the Government, paving the way for the more than 500-year-old postal service to pass into foreign ownership for the first time.
Business Secretary Jonathan Reynolds confirmed the Government had secured a raft of legally-binding commitments with Mr Kretinsky’s EP Group over the postal service, including protecting the one-price-goes-anywhere delivery commitment and a pledge to keep Royal Mail headquartered in the UK.
Mr Kretinsky and International Distribution Services agreed a deal worth £3.6 billion – or £5.3 billion including debt – in May but had been waiting for approval from the Government, which must sanction the takeover given the national importance of Royal Mail and the postal service in the UK.
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Daniel Křetínský's company, EP Group, will gain control of the 500-year-old postal service and he has promised to honour some of its key delivery pledges "as long as he lives
‘ In a speech in 2015, Křetínský said: "We want to make money in industries that are dying because we think they'll die much more slowly than the general consensus says."
First and second class stamps sold in books are now too expensive to buy for the failing economy
Akwasi Addo Alfred Kwarteng (born 26 May 1975)[3][4] is a British politician who served as the Chancellor of the Exchequer from September to October 2022 under Liz Truss and the Secretary of State for Business, Energy and Industrial Strategy from 2021 to 2022 under Boris Johnson. A member of the Conservative Party, he was the Member of Parliament (MP) for Spelthorne from 2010 to 2024.
'Dozens' being investigated over Post Office scandal
On 25 August 2022, Royal Mail in the United Kingdom was notified by the British government that Křetínský's Vesa Equity Investment Sarl, the then single largest investor of Royal Mail, had plans to increase its shareholding to more than 25%. This triggered intervention and a British government review by Kwasi Kwarteng the United Kingdom's Secretary of State for Business under the National Security and Investment Act. On 31 October 2022, the Secretary of State for Business approved Křetínský's intention to increase Vesa's shareholding in Royal Mail (owned by parent company International Distributions Services)
Kwarteng received a severance payment from the Treasury of £16,876 following his resignation. In February 2024, Kwarteng announced that he would not seek re-election as an MP at the 2024 general election. In May 2024, Kwarteng was a guest on the Leading podcast by Alastair Campbell and Rory Stewart.
The citizens of England want radical changes to see our once great island to rise again
We want this plan implemented over a 20 year period
We want to see English boys being scouted for English clubs to play against foreign rival teams like Sparta Praha, is a professional football club based in Prague and other European countries to promote English football ⚽️
Daniel Křetínský
Czech businessman and lawyer friends with Kwasi Kwarteng
Former Chancellor of the Exchequer
According to Kwarteng, the whole event took place very quickly. Being recalled from a meeting in Washington with the IMF, on his way back to Downing street news had already broken out of his imminent removal from his position as chancellor
n fact, Kwarteng details the whole situation, recalling that “I was called back a day earlier. So I was due back, I think, on the Saturday morning. And I came back on the Friday morning. And I was driven to Downing Street. And I was essentially sacked.”
Kwarteng has been identified by The Economist as the second-shortest serving chancellor, having left the position after only 38 days. He places second to Iain Macleod who in 1970 had served in the same position for only 30 days due to having passed away while in office 🏢
'We want our country back' yes, back on track to prosperity and higher living standards
I think 🤔 the only thing left that is still English is cabduys chocolate were still got that to be proud of I think I might be wrong but this country is a disgrace I used to be a proud of this country but I'm ashamed of our country now
According to the 2024 Sunday Times Rich List, there are 165 billionaires in the UK: 🇬🇧
They are not blind , 165 billionaires residing in England can see where the profits are going and why we are dying from inflation and gas prices
Not one of them can get their cities even cleaned up like other cities . The rats are as big as cats 🐈⬛
Look at Moscow or Dubai , cleaned up and sparkling with prosperity for their citizens to enjoy with may I add free entertainment for children in Moscow for children with roundabouts and free ice skating ⛸️
This country at the moment is all about extracting every last pound from their citizens from parking 🅿️ spaces to 20 mile per hour
We demand transparency and radical changes for our communities
Czech billionaire who is very good friend of Putin. Got a love this
Yep and this chap who's acquired the royal mail will strip it and the goverment will have to prop it up . Like the steel industry and the railways. Utter madness
Who bloody cares the Royal Mail will be sold. I went into a packed post office today. One person on duty. Chaos. Wanted two stamps for bloody Xmas cards. I was told very sheepishly that first class was £1.65 and second class was £0.86. Fuckn really. To send a card that didn’t even cost that much. That’s me finished with the Royal Mail.
Labour is treacherous….no other way to put it .
well you did nothing over the last 30+ years Diversity is an Asset remember. Enjoy what you allowed. Looking forward to renaming England competition coming soon
They are not a labour party they are Tory in disguise
UK is a failing country, the govt will give away its assets peice by peice. and yet they want to show off they are the saviours by handing out freebies and money to third world countries when they should be looking out for their own people and strengthening the economy.
Xmas cards have been dying year on year. It's not just cost. It's a large part due to social media. I guess I am one of the l last generation who will send cards. Ordinary letters are gradually dropping too due to online services etc.
It’s disgusting !!! Who’s great idea is it to get rid of Royal Mail, pension allowance , all subsidies for farmers and prioritise illegals migrants , lgbtq and Palestine . This country is FUBAR !!