Czech tycoon Daniel Kretinsky has acquired Royal Mail's parent group for £3.57B (~$4.56B), ending British ownership. The deal includes special commitments and has been accepted after a previous bid rejection. Despite concerns about the 500-year-old postal service's $450 million loss last year, the UK's likely next government seems supportive of the acquisition. Kretinsky, known for his passion for football, is defying a nationalist anti-M&A trend with this bold move.
The Royal Mail is a British institution. Its new owner is a Czech billionaire whose main passion is football, not deals https://t.co/vtIQBczTrK
A 500-year-old postal service that lost $450 million last year has been bought by a Czech billionaire. It's "as British as it gets" and customers are worried it signals the end of an era. https://t.co/dCKGv4wnYU
🗞️ The U.K.'s @RoyalMail will be acquired by Czech billionaire @dan_kretinsky's @EPGroup6, ending British ownership. International Distribution Services accepted the improved offer of £3.57B (~$4.56B) after rejecting a previous bid. https://t.co/udyzwUOANi https://t.co/PbRmwUpJ6s
From @Breakingviews: Czech tycoon Daniel Kretinsky attached special commitments to his controversial bid for the UK postal service’s parent. Britain’s likely next government seems OK with it. @ywchen1 explains why the deal could defy a nationalist anti-M&A trend https://t.co/FHuEZ5jSkc
From @Breakingviews: Czech tycoon Daniel Kretinsky has made a bold move with his takeover of Royal Mail’s parent group. @ywchen1 explains why the deal could defy a nationalist anti-M&A trend https://t.co/fvvv5mK4Jr