Czech billionaire’s bid to buy Royal Mail will be subject to national security review

A Czech billionaire seeking to buy Royal Mail will face a national security review, the Prime Minister admitted yesterday amid concerns over the takeover.

Daniel Kreczynski This week Mitigates £5.3bn takeover offer Pledge to International Distributions Services, listed owner of Royal Mail, to maintain postal services work Registered in the UK and maintains a Post Office contract.

Activists and trade unions fear a foreign takeover. royal mail Owners may split up the company. tax Operations may be moved overseas or standards of delivery to customers may be lowered.

Krechinsky, the largest investor in international distribution services, already has national security experience review In 2022, his stake will exceed 25%.

jeremy hunt Yesterday, the government told reporters: “We welcome international investment in British companies, but we welcome international investment in British companies.” . . We always have national security in mind and have ensured that there are no future risks to our core infrastructure, and any bid for Royal Mail will go through the normal process. ”

The concerns are understood to be about the importance of the postal network and not about Mr Krechinsky, who also owns the shares. sainsbury’s and west ham.

Business companies fail

number of companies go bankrupt It rose 18% in April.

The number of cases reached 2,177, with companies struggling to raise funds due to high borrowing costs, according to figures from the Insolvency Service. inflation.

Company voluntary arrangements have doubled and liquidation claims have increased by 44 per cent.

Business asda was excited

sale at ASDA Sales rose 6.6% to £5.3 billion in the first three months of this year, boosted by new convenience stores at petrol stations.

The actual sales of this supermarket are aldi and riddle Price match.

Asda has announced it will invest £50 million in refurbishing its stores.