Stay updated with breaking news from Rep Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Daniel Kretinsky (pictured) - known as the Czech Sphinx - has until 5pm today to walk away or make a bid for Royal Mail's 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.