UK Postmasters now in limbo as part of Royal mail sold ?

Sneaking under the news radar late last night, the news from the UK government that the postal delivery aspect of Royal Mail has apparently been sold.

Daniel Kretinsky a Czech billionaire has apparently bought that side of the business via a conglomerate holding company who put up the money (£3.57 billion)

The deal still needs to be confirmed by the acquisitions and mergers commission....a UK government quango.

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Longpatrol · 31-35, M

How tf does the UK allow a foreign entity to control their mail?!

Picklebobble2 · 56-60, M

@Longpatrol See this is what happens when your government sells off national assets but retains just enough of the stock/shares to be the sole consent to sell !!!

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Matt85 · 36-40, M

Gotta be a strategy here I just don't know what 🤔

Ironicman · 56-60, M

@Matt85 Royal mail real estate. All those sorting offices and depots, especially the old ones in prime city locations near train stations.

CheekyBadger · M

Don't think there are many postmasters left after Post Office closed down the offices. Most Post Offices are now what used to be sub-postoffices which are essentially franchises, owned by private operators and paid to provide post office services. These are distinct from Royal Mail which is separate company (and has been for many years). Royal Mail is the part which is being sold and provides delivery services across the UK. The government has been looking for a buyer for years but hasn't been sucessful.

Also now the stamp price is more than £1 other companies are allowed to compete for customers - e.g. I could see Amazon or Evri being able to deliver letters using their existing infrastructure.

ArtieKat · M

As @OldBrit said Post Office Ltd/Post Office Counters Ltd and Royal Mail have been completely separate legal entities since 2012. The deal has not yet been approved so I think you are being a bit premature. There is a huge amount of concern now globally about outside ownership of strategic assets - while I agree it is quite likely, on balance, to be approved, it's not yet a done deal.

@Picklebobble2

OldBrit · 61-69, M

Royal Mail and Post office are and have been separate companies for some years

Picklebobble2 · 56-60, M

@OldBrit Yes Post Office counters make very little money from over the counter sales.

Every letter you buy a stamp for goes in one direction and P.O. Counters get a small handling fee.

Post Offices themselves are likely to be sold off for brownfill sites.
Which means even the little village stores currently run by Sub-Postmasters will either decline or increase in numbers with yet another computer system running it.

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Anniedlr · 26-30, F

He already owns 27% of it 🙂

Picklebobble2 · 56-60, M

@Anniedlr and the holding company owns him !
If the holding company should go bust or need to sell assets......

HotPizza71 · 51-55, M

And the shareholders..

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