The British Post soon to be under foreign flag, “a first in five hundred years of history”

Daniel Kretinsky extends his empire across the Channel. After his acquisition of a stake in the Sainsbury’s supermarkets (10%) and the London football club West Ham United (27%), the Czech billionaire should, unless there is a change of heart, acquire the British post office. Royal Mail’s parent company, International Distributions Services (IDS), “thus accepted a firm offer equivalent to 3.57 billion pounds (4.19 billion euros), inform the daily The Times, Wednesday May 29. The sum even reaches 5 billion (5.87 billion euros) once IDS debts are included, which will be taken over by Kretinsky.”

A public service long revered by the British before its privatization in 2013, the Royal Mail would go under a foreign flag for the first time in five hundred and eight years of history, calculated The Daily Telegraph. “Mr. Kretinsky made several binding commitmentscontinues the conservative newspaper. For five years, he promises not to impose workforce reductions, to protect the Royal Mail brand and to keep the headquarters in the United Kingdom.” Priori mail delivery

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