Royal Mail sold to Czech billionaire: Kretinsky secures iconic institution’s future in Britain

The historic Royal Mail, tracing a history back to the reign of Henry VIII in the 1500s, is set all set to change hands as it will be sold to Czech billionaire Daniel Křetínský. However, Royal Mail’s headquarters and tax residency will remain in the United Kingdom for at least five years Royal Mail, a historic institution dating back to the reign of Henry VIII in the 1500s, is set to be sold to Czech billionaire Daniel Křetínský in a deal that ensures the postal service will remain headquartered in Britain. According to a government statement published Monday, these commitments include maintaining Royal Mail’s headquarters and tax residency in the United Kingdom for at least five years unless government approval is sought. The commitments given to the government by EP Group “secure Royal Mail’s identity as an iconic British institution whilst also allowing it to operate as a fully private company without day-to-day government interference,” the Department for Business and Trade stated. “Royal Mail’s poor service is now eroding public trust in one of the UK’s oldest institutions.” Křetínský, who is worth an estimated $7 billion according to the Bloomberg Billionaires Index, oversees a vast business empire spanning energy companies, retail, and football clubs across Europe.