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Meet the enigmatic Czech billionaire who wants to buy Britain's Royal Mail

·1 min

Royal Mail, the historic British postal service, is on the verge of being sold to Czech billionaire Daniel Křetínský. International Distribution Services (IDS), the owner of Royal Mail, announced that it is inclined to recommend a takeover offer from Křetínský’s EP Group. The offer must be converted into a formal bid by May 29. Royal Mail has faced financial difficulties in recent years due to a decline in demand for its services. The potential sale has raised concerns about the fate of workers and the future of the national service. Křetínský, known for his investments in energy companies and football clubs, is worth an estimated $7.7 billion. The sale has prompted anxieties about foreign ownership of a British institution and its impact on postal services.