The owner of Britain’s embattled Royal Mail is poised to accept a £3.5 billion ($4.4 billion) takeover bid from a Czech billionaire, raising fears about the fate of thousands of workers and a key national service.
Royal Mail dates back to the Tudors. It has been operating a postal service in England since the reign of Henry VIII. Now this most British of institutions is on the brink of being sold to a Czech billionaire, Daniel Křetínský, raising fears about the fate of thousands of workers and a key national service.
So elusive, in fact, that the Polish version of Newsweek magazine dubbed him the “Czech Sphinx” in 2019. The Sphinx, a mythical creature originating in Greek mythology, requires travelers to solve a riddle before allowing them to pass. But some fans of British soccer will already know his name. Three years ago, the businessman bought a 27% stake in West Ham United Football Club through another of his investment firms.
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