The UK government are expected to announce today that the Royal Mail takeover by the Czeck EP group, which was under review for ‘national security’, can go ahead with conditions that include no redundancies until 2025 and a commitment to continue the single price letter delivery to anywhere, named as the Universal Service Obligation, for 6 days per week although it’s expected 2nd class deliveries would change to every other day to help make Royal Mail more profitable.
Daniel Kretinsky’s EP group, which also has shares in Sainsbury and West Ham football club and runs a pipeline that imports gas from Russia to Europe, were in talks this weekend with the Communication Workers Union to finalise the details which includes a 10% share of any dividends paid out going to Royal Mail workers.