Aug 1, 2024
Royal Mail deal to be probed over potential Russia links
Royal Mail's takeover by Czech billionaire Daniel Kretinsky will face a government probe, including into potential links with Russia, the BBC understands. The bid will be suspended, a routine process anytime the government reviews a takeover, but it does not mean that Mr Kretinsky has withdrawn from the deal. The government could block the deal, though a similar review when Mr Kretinsky increased his stake in Royal Mail found nothing. As well as links to Russia, officials will look at whether the UK could be hurt by the private purchase of a postal service that has been delivering mail since it was founded by Henry VIII. People close to the deal told the BBC that talks between Mr Kretinksy's team, Business Secretary Jonathan Reynolds and government advisers are "Ongoing and have been constructive". The investigation comes despite Mr Kretinsky telling the BBC he would never walk away from Royal Mail's commitment to deliver letters throughout the UK six days a week.
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