Royal Mail £3.6bn takeover by Czech billionaire Daniel Kretinsky raises fears of second-class post as small businesses call for ‘thorough’ scrutiny of deal
- The postal company will fall into foreign hands for the first time since its founding in 1516
- Small businesses are calling on ministers and regulators to enforce protection measures
- They are concerned that Mr Kretinsky will go ahead with plans to reduce services
Small businesses have called for a ‘thorough’ investigation of the £3.6 billion Royal mail takeover for fear that services could be watered down.
Royal Mail owner International Distribution Services has accepted a takeover from Czech billionaire Daniel Kretinsky, meaning the postal service will fall into foreign hands for the first time since it was founded by Henry VIII in 1516.
But business groups representing thousands of small businesses are calling on ministers and regulators to enforce protections.
Industry voices – including the Greeting Card Association (GCA), the British Independent Retailers Association and the Federation of Small Businesses – have all sounded the alarm.
They worry that Kretinsky will fulfill the current owner’s hopes of reducing the frequency of second-class deliveries and increasing the price of first-class stamps.
Royal Mail owner International Distribution Services has accepted a takeover from Czech billionaire Daniel Kretinsky, meaning the postal service will fall into foreign hands for the first time since it was founded by Henry VIII in 1516.
Business groups representing thousands of small businesses are calling on ministers and regulators to enforce protections amid fears services will be reduced
Andrew Goodacre, chief executive of the British Independent Retailers Association, said reduced services would “make doing business even harder” for small businesses.
He added: ‘If Royal Mail is to be sold, we need to know that the due diligence is thorough and that there is a genuine commitment to maintaining, if not improving, current levels of service and delivery.’
GCA chief executive Amanda Fergusson said the group’s members were concerned that Kretinsky’s proposed suggestions were “inadequate and short-lived”.
Industry voices – including the Greeting Card Association (GCA), the British Independent Retailers Association and the Federation of Small Businesses – have all raised concerns
