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Senior Member
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I was amazed to see
the Union Boss backing this take over. He spoke on BBC1HD AM [The sale of Royal Mail's parent company to a Czech billionaire has been approved by the government. The £3.6bn takeover by Daniel Kretinsky's EP Group has been given the go-ahead after agreeing "legally binding" undertakings. 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. EP Group 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. The company has committed to maintaining the USO for as long as it owns Royal Mail. Earlier this year, Mr Kretinsky told the BBC he would honour the service - in whatever form it takes - "for as long as I am alive". 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 £300m a year and give the business "a fighting chance".] https://www.bbc.co.uk/news/articles/ckg93390808o Life In The City |
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