PROMISES by tycoon Daniel Kretinsky over his Royal Mail takeover must be watertight, the Post Office minister says. Kevin Hollinrake wants the Czech businessman ’s undertakings tested ahead of the £36billion deal. 5 Promises by Daniel Kretinsky over his Royal Mail takeover must be watertight, says the Post Office minister Credit: AFP 5 Kevin Hollinrake wants the tycoon’s undertakings tested ahead of the £36billion deal Credit: Alamy They include a five-year commitment to maintain first-class deliveries, not to trigger a break-up of the Royal Mail — and to keep its branding and its UK HQ.
Mr Kretinsky yesterday took his 370p-a-share bid directly to investors — and included a sweetener to give Royal Mail workers shares. Some 6 per cent of Royal Mail’s parent company International Distribution Services is owned by posties, after they were given shares as part of its 2013 listing. Takeover documents released yesterday revealed Mr Kretinsky is open to giving a “profit-sharing mechanism to all employees”.
It is thought to be an olive branch to get Royal Mail’s noisy union onside and appeal to a possible new government. Disruption from strikes cost Royal Mail £600million in losses last year. Mr Hollinrake told The Sun he recently met Mr Kretinsky to discuss the bid.
He viewed him as “considered and straightforward”. The minister added: “He didn’t strike me as someone who’s going to radically change the business, but run it in private ownership.” Most r.
