Kretinsky Says Royal Mail Needs Funds to Avoid ‘Deadly Spiral’

Czech billionaire Daniel Kretinsky plans to fund the takeover of International Distribution Services Plc, owner of the UK’s Royal Mail, with both equity and debt. He speaks to Bloomberg’s Irene Garcia Perez about what is needed to turn around the company and deliver for investors.Source: Bloomberg

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By Irene Garcia Perez

May 30, 2024 at 6:29 PM UTC

This article is for subscribers only.

Czech billionaire Daniel Kretinsky, who plans to purchase the company that owns UK’s Royal Mail, says the British postal service needs new investment to be competitive.

Kretinsky currently owns 27.6% of International Distribution Services Plc. If his offer for the rest of the company is rejected, Royal Mail could struggle to stay afloat, he said in an exclusive interview on Bloomberg TV.