Golden Share take overs16 Dec 2024 11:37
'Kretinsky and International Distribution Services PLC agreed a deal worth GBP3.6 billion – or GBP5.3 billion including debt – in May but had been waiting for approval from the government, which must sanction the takeover given the national importance of Royal Mail and the postal service in the UK.
Kretinsky – nicknamed the Czech sphinx – has since made several further concessions to gain approval, including giving the government a "golden share" in the postal service, meaning it will need to approve any key changes to Royal Mail's ownership, headquarters location and tax residency.'