Billionaire Royal Mail buyer to keep 6-day service

"As long as I'm alive, I completely exclude this," Czech billionaire Daniel Kretinsky told the BBC. Mr Kretinsky has had a £3.6bn offer for Royal Mail accepted by its board. Shareholders are expected to approve the deal on 25 September, but the government also has a say over whether it goes ahead. Currently the Universal Service Obligation requires Royal Mail to deliver letters six days a week throughout the country for the same price. The Royal Mail board agreed a £3.6bn takeover offer from Mr Kretinsky in May for the 500-year-old organisation, which employs more than 150,000 people. Mr Kretinsky told the BBC: "As long as I'm alive, I completely exclude this, and I'm sure that anybody that would be my successor would absolutely understand this."I say this as an absolutely clear, unconditional commitment: Royal Mail is going to be the provider of Universal Service Obligation in the UK, I would say forever, as long as the service is going to be needed, and as long as we are going to be around. The profit for Royal Mail's parent company last year was entirely generated by its German and Canadian logistics and parcels business, GLS. Royal Mail itself made a loss.

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