Royal Mail 'minded’ to back £3.5bn takeover from Czech billionaire #news #royalmail #business

Royal Mail’s owner has said it would be “minded” to agree a takeover by shareholder Daniel Kretinsky after the Czech billionaire put forward a higher proposed bid worth around £3.5bn.

International Distribution Services (IDS) said Mr Kretinsky’s EP Group had upped its proposal to 370p-a-share, from an initial 320p-a-share approach made on April 9, to buy the shares in IDS that it does not already own.

Mr Kretinsky – who is said to be known as the “Czech Sphinx” – already has a raft of investments, including stakes in London football club West Ham United and supermarket giant Sainsbury’s.

But any deal to buy IDS would face intense political and public scrutiny, given the importance of Royal Mail and the postal service.

Видео Royal Mail 'minded’ to back £3.5bn takeover from Czech billionaire #news #royalmail #business канала STV News