Page 7 - Rep Group News Today

Daniel Kretinsky (pictured) - known as the Czech Sphinx - has until 5pm today to walk away or make a bid for Royal Mails parent company IDS.

The Czech billionaire vying to buy Royal Mail has pledged not to cut any jobs if his takeover bid is successful.

Royal Mail's proposals include a slower first-class service and reducing the number of delivery days from six to three.

The Communication Workers Union (CWU) had been a major obstacle to Royal Mail's efforts to reduce its loss-making daily deliveries. 

The former shadow business secretary Chuka Umunna is lobbying Labour on behalf of a Czech billionaire in a bid to push through his takeover of Royal Mail.

Investegate announcements from USO reform submission and business progress update

Keith Williams says £3.1bn offer from Daniel Křetínský’s EP Group is opportunistic and undervalues IDS

Hedge fund Redwheel said in a statement on Sunday that it supported Royal-Mail owner IDS board decision to unanimously reject a non-binding share bid from EP Group on 11 April. ...

The second largest independent shareholder in Royal Mail's parent company has publicly backed the company's rejection of a takeover bid.

Shareholder calls for softening of postal service’s obligations after failed takeover bid by Czech billionaire for owner IDS