Royal Mail takeover by Czech billionaire Daniel Křetínský approved
www.theguardian.com
UK government to retain ‘golden share’ in parent company International Distribution Services

Summary

The UK government has approved Czech billionaire Daniel Křetínský’s £3.6bn takeover of International Distribution Services (IDS), Royal Mail’s parent company, after a national security review.

It marks the first foreign ownership in Royal Mail’s 508-year history. The government retains a “golden share” to protect the postal service’s obligations, branding, and UK-based operations.

The deal includes commitments to maintain the universal service, worker protections, and delivery performance.

While seen as a pivotal moment for Royal Mail’s future, scrutiny persists over Křetínský’s ties to Russian energy and controversial business dealings.

  • makingStuffForFun@lemmy.mlEnglish
    55·
    6 days ago

    Oh yeah. Privatisation is always better for the taxpayer. I mean, all those toll roads, managed by corporations. The value taxpayers get, paying for roads, that have been paid off a hundred times over, as they keep paying that private corporate tax. Every day. Hell yeah!

    • egrets@lemmy.worldEnglish
      101·
      6 days ago

      I don’t disagree with what you’re saying, but Royal Mail was privatised a decade ago. It was floated on the stock market back in late 2013 (for around £2b, and despite objections from 96% of staff), and the government let go of their 30% stake in 2015. Křetínský was a big shareholder even then.

    • Mr_Peartree@lemm.eeEnglish
      3·
      6 days ago

      Dude, it’s a great idea!! Just look at Thames Water and the privatization of water utilities. It’s fantastic!!