Who is the Czech ‘Sphinx’ behind the £5bn Royal Mail takeover?
- Czech billionaire, Daniel Kretinsky, is making a £5bn bid to acquire the Royal Mail.
- Union leaders warn about potential job cuts up to 1,000 after the takeover.
- Former Labour business secretary Chuka Umunna is involved in this high-profile acquisition.
Daniel Kretinsky, a Czech billionaire, has made a £5bn bid to take over the Royal Mail. He is known for being low-profile and rarely gives interviews. Kretinsky has investments in various countries and industries, including energy, fossil fuels, and sports. He also owns a significant stake in West Ham United football club. If the takeover bid is successful, there may be up to 1,000 job cuts at Royal Mail. The Communication Workers Union is set to discuss potential job losses with Kretinsky. Royal Mail is considering cutting second-class deliveries to three days a week to save money. This could lead to hundreds of job losses and changes to the Universal Service Obligation. Last year, Royal Mail lost nearly £1 million a day, prompting regulators to investigate missed postal targets.