IDS Board “minded” to accept cash offer for Royal Mail

IDS Board “minded” to accept cash offer for Royal Mail
 The Board of International Distribution Services has confirmed  that it has received a revised non-binding proposal from EP Corporate Group a.s.  worth about £3.5bn from shareholder and Czech billionaire Daniel Kretinsky.

Keith Williams, Chairman of IDS plc, commented: “The Board is minded to recommend this offer price, which it considers to be fair and reflects the value of GLS’ current growth plans and the progress being made on change at Royal Mail to adapt the business to a significant fall in the demand for letters and growth in parcels.

“It is however regrettable that despite four years of asking, the Government has not seen fit to engage in reform of the Universal Service and thus improve our financial position and ensure that Royal Mail could provide an economically sustainable service to the British public.

“The Board believes that the proposed contractual undertakings to be offered by EP Group should ensure that IDS continues to deliver the key elements of the Universal Service in the UK and protect the interests of the workforce at both Royal Mail and GLS.

There can be no certainty that any offer will be made.  

Relevant Directory Listings

Listing image

ZEBRA

Zebra Technologies is an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge. Zebra’s products, software, services, analytics and solutions are used to intelligently connect people, assets and data to help our customers in a […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This