Owner of UK’s Royal Mail says it has accepted a takeover offer from a Czech billionaire
https://apnews.com/article/britain-royal-mail-takeover-kretinsky-czech-b192608f2c0813f6911809783a330e29?utm_source=reddit.com&utm_medium=referral&utm_campaign=post
Posted by APnews
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The owner of Britain’s Royal Mail said Wednesday it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský.
Under the deal, Křetínský’s EP Group would buy International Distribution Services, which owns Royal Mail, for 370 pence ($4.72) per share.
Including debt, the deal values IDS at 5.2 billion pounds ($6.6 billion).
Classic Britain, we own nothing and ***must*** celebrate it.
Something so important shouldn’t be allowed to be owned by a private company, never mind a foreign entity. This is insanity.
Maybe he will sell it to Mr Putin, so he can cut off both the internet and the post together. No filing tax returns then.
“Have ya paid your dues, Jack?”
“Yessir, the Czech is in the Mail.”
Well if it isn’t bolted down Tories will sell it, suprised they haven’t sold England yet…
Reminder, the British public are still saddled with the enormous RM pension deficit.
So he can buy a company here, but I can’t get work outside the UK? Fml
Even the US postal service (USPS) is state-owned, this is a disgrace.
I received a lovely package from an acquaintance in New York recently.
It cost him less to send it to me in rural Wales than if I had sent it myself from the nearest post office 6 miles away.
The Mail is a *service* not a profit generating entity for fucks sake
In theory, could the next government re-nationalise it? Could they force this dude to sell it back to the government?
That’s cool, always good to funnel wealth into other countries
I’m sure there’s a good reason other than asset stripping why they spent 5 billion on a barely profitable business, which if their last year’s profit (a first for some years) is sustained would pay off the purchase price in something like 150 years.
Fuck me running you wanna just sell the clothes on me back before you get turfed out as well? We’re gonna have literally fuck all state owned services by the time the election comes around.
capitalism working its magic again i see.
You to may one day be able to own the post office /s
You to may one day become a billionaire /s
I’m sure glad that capitalism prioritises the profit of the few over the shared benefit of the masses /s
People still use Royal Mail? Its a terrible service use a better service. We live in a Capitalistic society yet people don’t vote with what counts. Their money.
“you’ll own nothing and be happy” seems like it applies to governments also