Royal Mail Accepts $4.6 Billion Takeover Bid from Czech Billionaire, Marking the First Foreign Owner in Its 500-Year History from eytranslate ey net Watch Video

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✓ Published: 30-May-2024

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The owner of the UK's Royal Mail postal service has accepted a $4.6 billion takeover bid from Czech billionaire Daniel Kretínsky. This would mark the first time Royal Mail, which was founded over 500 years ago, has been sold to foreign ownership. Kretínsky private equity firm is already the largest shareholder in Royal Mail with a 27.6% stake. Royal Mail has struggled financially in recent years, recording losses amid declining mail volumes. Kretínsky owns energy companies, retailers, and soccer club West Ham United, with a net worth of $7.7 billion.