Czech Billionaire to Take Over Royal Mail in £3.57 Billion Deal

Published on May 29, 2024

The owner of the Royal Mail has agreed to sell the business to Czech billionaire Daniel Kretinsky for £3.57 billion. International Distribution Services (IDS)—which owns Royal Mail—said the deal with Mr. Kretinsky’s EP Group would be put to shareholders in September but the board would be recommending the sale. The offer values shares in IDS at 370 pence each, 360p in cash and 10p in share dividends. Shares in IDS jumped to 333p a share on Wednesday morning trading on the London stock exchange. In 2022 the Sunday Times Rich List assessed Mr. Kretinsky to be worth £6 billion. Mr. Kretinsky, 48, owns several football clubs, including Sparta Prague in the Czech Republic and he has a 27 percent stake in English Premier League club West Ham United....

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