{"id":44902,"date":"2024-12-16T08:55:22","date_gmt":"2024-12-16T08:55:22","guid":{"rendered":"https:\/\/kede.com.br\/news\/royal-mail-takeover-by-czech-billionaire-approved\/"},"modified":"2024-12-16T08:55:23","modified_gmt":"2024-12-16T08:55:23","slug":"royal-mail-takeover-by-czech-billionaire-approved","status":"publish","type":"post","link":"https:\/\/kede.com.br\/news\/royal-mail-takeover-by-czech-billionaire-approved\/","title":{"rendered":"Royal Mail takeover by Czech billionaire approved"},"content":{"rendered":"


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The sale of Royal Mail’s parent company to a Czech billionaire has been approved by the government. <\/p>\n

The \u00a33.6bn takeover by Daniel Kretinsky’s EP Group has been given the go-ahead after agreeing “legally binding” undertakings.<\/p>\n

The government will retain a so-called “golden share” that will require it to approve any major changes to Royal Mail’s ownership, HQ location and tax residency.<\/p>\n

The new owners will also have to maintain the one-price-goes-anywhere Universal Service Obligation (USO), which currently means it has to deliver letters six days per week, Monday to Saturday, and parcels Monday to Friday.<\/p>\n<\/div>\n

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Mr Kretinsky told the BBC earlier this year that he would honour the USO – in whatever form it takes – “for as long as I am alive”<\/a>.<\/p>\n

The USO is currently under review, with Royal Mail suggesting to regulator Ofcom that reducing second class deliveries to every other weekday would save up to \u00a3300m a year and give the business “a fighting chance”.<\/p>\n<\/div>\n

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Other commitments to unions include workers getting a 10% share of any dividends paid out to Mr Kretinsky, as well as the formation of a workers group that will meet monthly with the directors of Royal Mail to give employees a bigger voice on how it is run.<\/p>\n

Mr Kretinsky had already offered the following guarantees in a bid to secure the deal:<\/p>\n