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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

New facilities at Haverfordwest Target Shooting Club agreed

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A CALL by a Pembrokeshire shooting club for more disability-friendly facilities has been given the go-ahead by county planners.

In an application to Pembrokeshire County Council, Haverfordwest Target Shooting Club, through agent Andrew Sutton Architecture, sought permission for an extension to existing target shooting club building at The Firing Range, Withybush Road, Haverfordwest to improve accessibility and internal facilities, together with associated landscaping works.

A supporting statement said: “The club’s own published history states it was founded in 1968, moved from the Drill Hall to the old wartime airfield butts at Withybush by the early 1970s, and had developed facilities over time, including the clubhouse by 1999. The established leisure/community use has existed on the site for a number of years and the proposal does not seek to intensify the core activity beyond that already authorised/established.”

It added: “The primary objective of the scheme is to improve inclusive access to the club’s facilities for disabled users and those with reduced mobility. The internal arrangement will provide adequate entrance and lobby space, clear accessible routes and appropriately designed sanitary accommodation, including an accessible wetroom/shower and separate WC.”

It also said accessible parking and surfacing designed to provide a firm, even, slip-resistant route from parking to the principal entrance.

It added: “The Equality Act 2010 places duties on service providers to make reasonable adjustments so that people with additional access needs are not placed at a substantial disadvantage.

“The proposal is therefore a positive enhancement to a community/leisure facility and supports wider policy objectives for inclusive environments.”

It went on to say: “The club operates within a highly controlled environment, and the proposed works will maintain and enhance safety and security measures.”

The application was conditionally approved by planners.

 

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Business

St Davids GP surgery plans lodged with national park

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PLANS to convert a former GP surgery in Pembrokeshire’s only city to a home and holiday let have been lodged with the national park.

In an application to Pembrokeshire Coast National Park, Alice and Danjal Joensen, through agent Oochitecture, seek permission for a change of use of the ground floor of the former GP surgery, Eryl Mor, 36, New Street, St Davids, merging with the existing first-floor apartment to create a larger single dwelling house, along with the creation of an attached short-term holiday let.

The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured.

A supporting statement says, prior to being a GP surgery, the two storey element was a single dwelling house.

It adds: “The house would consist of an open plan kitchen-living space to the ground floor, along with a study, lounge and utility room. The first floor includes four double bedrooms with ensuite and main bathroom.

“The new unit of accommodation would form a holiday-let with two double bedrooms, shower room, and an open plan kitchen-living space.

“The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured, therefore the proposed change of use will provide a viable long-term future use for the property.”

It says minimal external alterations are proposed to the property with existing entrances utilised for both the main house and holiday-let, adding: “The existing concrete ramp to the front elevation will be retained with proposed works including extending the upper level and steps to provide a connection to the front door, allowing for accessible entrance to the property.

“There will be no changes to vehicular or pedestrian access, with the site continuing to be accessed via the existing entrance from New Street. Parking will be provided for the main house and holiday-let on the existing tarmac driveway off New Street.”

The application will be considered by Park planners at a later date.

 

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Business

Cardigan bakery named among best in UK

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A CARDIGAN bakehouse has been named among the best bakeries in the UK as interest in “bakery tourism” continues to rise.

Bara Menyn, a small family-run bakehouse tucked away in a side street in Cardigan, has been highlighted by travel experts at holidaycottages.co.uk as one of the bakeries worth making a trip for.

The name Bara Menyn means “bread and butter” in Welsh, and the bakery has built a reputation for imaginative bakes, pizzas and seasonal produce.

Laura Kerslake, regional expert for Wales, said: “Bara Menyn is how you say ‘bread and butter’ in Welsh and the name of the small family bakehouse that is hidden down a side street in Cardigan, West Wales.

“It’s open three days a week so that the owners can fit the bakehouse around family life and their careers as artists.

“The family’s artistic flair can be seen in all the imaginative fillings and toppings on the bakes and pizzas served, which are also made using local, seasonal produce.”

The listing comes as the UK sees growing interest in independent bakeries, with spending on bakery goods reported to have risen by six per cent from 2025 to 2026.

Research also suggests that many people are now willing to travel for regional food experiences, from traditional cakes to artisan bread and pastries.

Two other Welsh bakeries were also highlighted: Little Valley Bakery, which has sites in Mumbles and Brynmill, and was recently named in the Good Food Guide’s 50 Best Bakeries 2026; and another Welsh entry included in the travel company’s wider list.

For Cardigan, the recognition adds to the town’s growing reputation as a destination for independent food, drink and creative businesses.

 

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