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Royal Mail faces historic takeover by Czech billionaire

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THE ROYAL MAIL a cornerstone of British postal services for over 500 years, is poised for a historic change of ownership. The board of its parent company, International Distribution Services (IDS), has agreed to a formal takeover offer from Czech billionaire Daniel Křetínský. The £5 billion deal includes the assumption of existing debts.

Křetínský, who has expressed his “utmost respect” for the Royal Mail’s history and tradition, has committed to maintaining the company’s name, brand, UK headquarters, and tax residency. He has also vowed to safeguard employee benefits and pensions.

Despite these assurances, the deal will be subject to scrutiny under the National Security and Investment Act. Business Secretary Kemi Badenoch retains the power to examine and potentially block the takeover. The market reflects some scepticism, with Royal Mail’s shares trading below the 370p per share offered by Křetínský, indicating concerns over possible government intervention.

Chancellor Jeremy Hunt has indicated that the bid will undergo “normal” national security scrutiny but stated there is no opposition to the deal in principle. Shadow Business Secretary Jonathan Reynolds has stressed the importance of Royal Mail’s role in the UK and outlined conditions he believes Křetínský’s offer should meet.

In his latest update, Křetínský acknowledged the “enormous responsibility” of owning Royal Mail, highlighting his commitment to the company’s employees and the public who rely on its services. He detailed a series of commitments, including maintaining the universal service obligation, which mandates six-day letter deliveries and five-day parcel deliveries across the UK.

Royal Mail has faced significant challenges in recent years, with declining letter volumes and financial losses. IDS reported a small profit last year, solely due to its German and Canadian logistics businesses. In response, Royal Mail has suggested service reductions, such as cutting second class deliveries to every other weekday, to save up to £300 million annually.

The proposed takeover includes several protections, such as preserving the universal service, retaining the Royal Mail brand, and respecting union demands against compulsory redundancies until 2025. Keith Williams, IDS chair, stated that the board had secured a “far-reaching package of legally binding undertakings and commitments,” deeming Křetínský’s offer “fair and reasonable.”

Dave Ward, general secretary of the Communication Workers Union (CWU), has called for “more extensive assurance” regarding the future of the UK postal service. The CWU plans to engage with Labour and other stakeholders to advocate for a new ownership model that gives postal workers a say in key decisions.

The IDS board’s approval marks the beginning of a process that will include a shareholder vote at the next annual general meeting in September. The Department for Business and Trade expects any prospective buyer to engage with government officials.

Who is Daniel Křetínský?

Daniel Křetínský, 48, is a Czech businessman and lawyer with a net worth of £6 billion. He made his fortune in the Central and Eastern European energy sector and has diversified his investments into retail and logistics. His portfolio includes significant stakes in Sainsbury’s, Footlocker, and West Ham United, among others.

Known as the “quiet sphinx” for his discreet style, Křetínský owns luxurious properties in London and Paris and a share of the Velaa private island resort in the Maldives. His business interests in the UK are managed through Vesa Equity Investment, registered in Luxembourg.

The potential acquisition of Royal Mail by Křetínský represents a significant shift in the ownership of one of the UK’s most historic institutions. The coming months will reveal whether this deal will proceed and how it will impact the future of postal services in Britain.

For ongoing coverage and updates on this developing story, stay tuned to The Pembrokeshire Herald.

Business

Pembrokeshire holiday lets near Iron Age farmstead approved

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A CALL to convert barns at a redundant north Pembrokeshire farm close to an Iron Age defended farmstead to holiday lets has been approved by county planners.

In an application before Pembrokeshire County Council planners, Ariana Grammaticas and Alewyn Muntingh sought permission for the conversion of two farm buildings at Pencraig Fawr, Llangolman, to three holiday lets.

A supporting statement through agent GMW Design said: “The existing farm is now redundant, the need for livestock and farming is no longer a requirement, my clients wish to utilise the existing farm buildings in a more efficient and long-term use to provide holiday accommodation.

“The buildings’ use for farming is redundant and it is considered that the building is of a style and scale that would lend itself to Holiday accommodation with little alteration to its current form. They have the benefit of having their own curtilage, with a little improvement to the site surrounding they lend themselves comfortably for conversion.

“The vision for the conversion proposals is a development that fits comfortably within the existing area without the need for reconstruction or external alteration to facilitate the conversions. The buildings are located off a former farmyard area and close to the existing farmhouse of Pencraig Fawr.”

Pencraig Fawr is some 250 metres from Pencraig-Fawr Camp, a scheduled ancient monument defended farmstead, which probably dates to the Iron Age period (c. 800 BC – AD 43), an officer report says.

It adds: “Cadw have raised no objection to the proposal with respect to any potential impact upon the heritage asset nor how it is experienced, advising that intervening topography, buildings and vegetation block all views between the monument and the buildings for which conversion is proposed. The access track is within the identified significant view and passes close to the asset.

“However, no changes are planned to this route and the proposal is unlikely to generate a significant amount of traffic. As such, the proposed development will not have any significant adverse impact upon on the way that the monument is experienced, understood, and appreciated and consequently will have no impact on the setting of scheduled monument.”

The application was conditionally approved by planners.

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Business

Pembroke Dock opticians fundraises to support local families

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A PEMBROKE DOCK opticians has collected food, toiletries and seasonal supplies to help individuals and families in Pembrokeshire experiencing financial hardship.

The collection, organised by trainee dispensing optician Courtney Hearn, was donated to PATCH (Pembrokeshire Action To Combat Hardship), a local charity dedicated to providing essential items, including food parcels, clothing and household necessities to those in need.

PATCH also holds an annual Christmas Toy Appeal, which ensures children in need receive gifts, art materials, chocolates and wrapping supplies, bringing joy to families facing challenging circumstances during the festive season.

The Specsavers team contributed food and toiletries, while retail director Ellie Thomas-Wigley and optometrist Andrew Williams purchased wrapping paper and Sellotape, following guidance from PATCH, to support the appeal.

Ellie Thomas-Wigley says: ‘We’re incredibly proud of our team’s generosity and their commitment to helping the community. PATCH plays a vital role in supporting local families facing difficult times, particularly during the festive season, and we’re pleased to contribute to their important work.

‘Thank you to our customers and team for coming together to support those in need at such a critical time of year.’

Since 2008, PATCH has been providing support to Pembrokeshire residents by working with referral agencies such as health workers and social services. The charity’s Basics Bank offers immediate help to those experiencing crises, including job losses, benefit delays, or emergency situations like fire or homelessness.

To learn more about PATCH or to donate, visit their charity shop on Charles Street.
Specsavers Pembroke Dock is open seven days a week. To find out more and book an appointment, visit www.specsavers.co.uk/stores/pembrokedock.

Additionally, to make eye health accessible to all, the store offers a Home Visits service for those unable to leave their homes unaccompanied due to disability or illness.

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Business

Authentic Turkish flavours come to Haverfordwest with exciting café opening

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A DREAM is set to become reality for Hatice Eltan as she prepares to open Turkish Kitchen Café on Quay Street, Haverfordwest, on February 1, 2025, at 10:00am.

The café promises to bring the vibrant and authentic tastes of Turkish cuisine to Pembrokeshire, offering carefully crafted dishes, aromatic coffee, and a welcoming atmosphere. Open daily from 9:00am to 3:00pm, the café aims to become a hub for both locals and visitors.

Hatice, who moved to Pembrokeshire five years ago with her daughter Eliza and son Deniz, described her excitement: “I’ve always had a passion for cooking and catering, and opening my own café has been a long-standing dream. Pembrokeshire deserves a place where people can experience traditional Turkish food. Many locals love visiting Turkey on holiday, and I want to bring a piece of that experience here.”

The launch event will feature a special food-tasting experience, giving visitors a chance to savour traditional Turkish delicacies such as savoury gözleme, sweet baklava, and refreshing Ayran — a classic yoghurt-based drink. Complimentary samples of Turkish coffee and tea will also be available.

In addition to the tasting, the café will run a raffle where one lucky winner will enjoy a free meal for two, and the first 50 guests will receive a special gift voucher.

Hatice will be joined by her brother-in-law Mustafa Eltan in running the café. Together, they plan to create a warm and inviting space that celebrates Turkish culture and cuisine.

Looking ahead, Hatice has ambitious plans for the café:

“If all goes well, I hope to expand Turkish Kitchen into a full restaurant with extended hours. I already have the necessary licensing to remain open until 3:00am, and I’m excited about the possibilities for the future.”

Hatice, originally from London with Turkish heritage, spoke about her love for Pembrokeshire: “We first visited Pembrokeshire on a weekend trip and instantly fell in love with the community, the beaches, and the slower pace of life. Moving here was one of the best decisions I’ve made for my family.”

Turkish Kitchen Café aims to offer more than just food; it promises an experience — a journey through flavours, tradition, and heartfelt hospitality.

For more information, visit turkishkitchencafe.co.uk.

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