Royal Mail owner agrees to takeover by Czech billionaire Daniel Kretinsky • FRANCE 24 English

Royal Mail owner agrees to takeover by Czech billionaire Daniel Kretinsky • FRANCE 24 English

[Music] Yuka storage centuries old British institution is set to be sold to a foreign firm Royal Mal’s parent company has accepted a multi-billion pound offer from Czech billionaire Daniel kinsky though the deal still needs approval by shareholders and the British government now the Postal Service can trace its roots as far back as 1516 when Henry VII knighted the first Master of the post the British government privatized it about a decade ago but in the era of emails it has struggled to make a profit vial has the details with 500 years behind it it’s one of the world’s oldest postal institutions but the Royal M’s iconic red post boxes with their Regal Crest may have a new owner as its parent company International distribution services has agreed to a 3.6 billion pound takeover by Czech billionaire Daniel kin’s EP group who pledged to revive the company after a few years battling labor strikes a fall in demand and a deterioration in service the group also pledged various commitments to retain the Royal male name headquarters and UK tax residency as well as maintaining the one price goes anywhere six days a week service for the next 5 years Royal Mail is part of the fabric of UK society and has been for hundreds of years I know that owning this business will come with enormous responsibility not just to the the employees but to the citizens who rely on its services every day 48-year-old kinsky is nicknamed the Czech Sphinx for his enigmatic discret business style making much of a 7 billion Euro Fortune from Central and Eastern European energy he’s also got several companies in his basket including stakes in West Ham Football Club British retailer Sainsbury’s with plans to buy France’s sixth largest retailer casino and a division of tech company atos Royal Male shareholders will vote September end on whether to approve the deal and it may still be blocked by the government under the National Security and investment act and meanwhile Yuka potential Mega merger in the mining sector has fallen apart Australia’s BHP walked away from its $49 billion plan to take over British rival anglo-american after the latter rejected an 11th Hour request to extend talks it was a fourth proposal by BHP after the previous three were rejected as undervalued however the mining Giants demand that anglo-american spin off its South African businesses before the Takeover and focus on top tier Commodities such as copper proved to be a sticking point the British FM was worried that it would hurt its shareholders Anglo also announced its own plans to divest some assets including its the beers Diamond business anglo-american shares dropped almost 4% after talks with BHP broke down while Royal M’s owner International distribution services Rose 4% US Stocks pulled back this Wednesday with the Dow Jones shedding more than 400 points at the close let’s have a look at the figures now Dow Jones down 1% the S&P losing three4 of a percent the NASDAQ finishing the day down 6/10 of a percentage Point Monty well Germany’s cabinet has approved new bills to help its energy transition the aim is tax accelerate the integration of hydrogen and carbon capture into the country’s Energy System while maintaining heavy Industries the government has set the goal of becoming carbon neutral by 2045 ahead of the EU Berlin bets big on hydrogen as a way to cut greenhouse gas emissions for highly polluting industrial sectors that cannot be electrified such as steel and chemicals one of the draft laws would give hydrogen projects overriding public interest status to prioritize is their approvals the other is on the more controversial carbon capture uh project it would allow Industries to remove CO2 from their emissions and store the gas under the sea is something that has previously been banned environmental groups have vo concern over risks of marine life economy Minister Robert habek said protected areas would be excluded from offshore storage sites CCS the CCS the carbon Dio oide storage act covers the capture transportation and storage of CO2 I assume that a few months ago this law would have caused quite a stir but today you have to realize that the majority of society agrees with how we’ve drawn up the bill in any case I can’t hear any voices of protest

A centuries-old British institution is set to be sold to a foreign firm. Royal Mail’s parent company has accepted a £3.6 billion takeover offer by Czech billionaire Daniel Kretinsky’s EP group. Privatised about a decade ago, the postal service that dates back to Tudor times has struggled in the era of emails. Meanwhile, the world’s biggest mining firm BHP has walked away from a $49 billion plan to take over British rival Anglo American, after the latter rejected a request to extend talks. 

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