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IDS CompanyWed, 15th Sep 2010 09:00
(Sharecast News) - Britain's Royal Mail has been given permission to axe the Saturday delivery of second-class letters and lower reliability targets under new rules by industry regulator Ofcom.
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International Distribution Services PLC - London-based owner of Royal Mail - EP Corporate says it now has received 90.15% acceptances of its GBP3.6 billion takeover offer. As a result of passing the 90% threshold, EP Corporate, the vehicle of Czech billionaire Daniel Kretinsky, will now move to compulsory acquisition of remaining IDS shares. EP Corporate expects to cancel the trading of IDS shares on the London Stock Exchange by Monday next week. Under the terms of the offer, shareholders will receive 370 pence for each IDS share. The deadline for acceptances is June 11. The takeover offer is worth GBP5.3 billion including IDS's debt.
Read more(Alliance News) - London's FTSE 100 is set to open higher on Wednesday, as new data shows UK homebuyers are typically agreeing sales more than GBP15,000 below the asking price, and Thames Water is hit with the biggest ever fine from Ofwat totalling nearly GBP123 million.
Read more(Alliance News) - Stock prices in London closed in the red on Friday, following US President Donald Trump's renewed tariff threats against the EU and Apple.
Read more(Alliance News) - Regulators have launched an investigation into International Distribution Services PLC's Royal Mail after it delivered just over three-quarters of first-class post on time last year, missing its delivery targets set by the communications watchdog.
Read more(Alliance News) - International Distribution Services PLC on Wednesday reported concerns by Royal Mail that Ofcom's proposed reforms will "add significant cost" to the universal service.
Read more(Sharecast News) - Britain's Royal Mail is set to axe Saturday deliveries and provide an alternate-day service for second class letters, under proposals put forward the regulator Ofcom.
Read more(Alliance News) - Royal Mail is set to be allowed to ditch Saturday deliveries for second class letters under plans being put forward by Ofcom that will also see wider postal delivery targets cut in the UK.
Read more(Alliance News) - International Distribution Services PLC on Wednesday said it expects Royal Mail to return to profitability this financial year as its takeover deal presses ahead following key regulatory clearances.
Read more(Alliance News) - International Distribution Services PLC on Wednesday said it expects Royal Mail to return to profitability this financial year as its takeover deal presses ahead.
Read more(Sharecast News) - International Distribution Services reported a slight rise in revenue during the busy Christmas period as its Royal Mail business handled more international parcels.
Read more(Sharecast News) - London stocks ended the day on a mixed note Friday, as investors weighed weaker-than-expected UK retail sales growth and cooler US price growth than anticipated.
Read moreInternational Distribution Services PLC - London-based post and parcels delivery firm that owns Royal Mail - Acquisition by Daniel Kretinsky's EP Group AS gets UK security clearance. The UK government on Monday confirmed it had cleared the way for the 500-year-old postal service to pass into foreign ownership for the first time, having secured legally-binding commitments from Kretinsky to maintain a universal service. However the GBP5.3 billion deal still was conditional on separate clearance under the UK National Security & Investment Act 2021. This was confirmed by the chancellor of the Duchy of Lancaster, who is Pat McFadden. Some regulatory conditions remain to be satisfied, but EP says on Friday it expects the IDS takeover offer to be declared unconditional in the first quarter of 2025.
Read more(Sharecast News) - The UK government has cleared the £3.6bn sale of Royal Mail parent company International Distribution Services to Czech billionaire Daniel Kretinsky's EP Group.
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