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[isis] 17/5/2024 17:27

We may just have to accept that RM with it's Militant Union and our Non-Cooperative Government have made this Company an anachronistic Basket Case.
One minute they're saying how RM is the life blood of the UK and the next they're giving it away to a Czech for nothing with no idea what will happen in the future. One thing you can be sure GLS will be distanced asap.

[isis] 17/5/2024 14:16

Hunt says he Welcomes Foreign investment. Errrr, what exactly is Kretinsky investing and where? Well GLS operate outside the UK and RM has already had alot invested in new Machinery and work practices so what will he be investing?
Precisely FA and that is how stupid our Government is. GLS is trading as separate entity and will not even have an HQ in the UK and no jurisdiction whatsoever from our Government. Just how stupid are these people?
In fact they will get no Taxation at all from GLS and RM has made huge losses so won't pay anything for years. if they don't pull their weight the whole lot will be thrown back at the Government minus any Light Bulbs or anything not bolted down!

[isis] 17/5/2024 14:04

Might as well give him the Keys now!

[isis] 17/5/2024 13:16

Imagine if the name was Ambromovich rather than Kretinsky??
I don't see much difference!

[isis] 17/5/2024 13:14

I was thinking along those lines too as they are run as separate entities. The Government have made RM a Basket case atm by being uncompromising, I hold them responsible for this.
It seems the Regulator is a Tool to break Companies. DK would have no qualms in abandoning it if it got into more trouble or the reforms are not good enough and there is very little they could do about it in the reality.
Mind you he'll pillage it first!

[moorsie2] 17/5/2024 13:04

My preference would be for the board to sell GLS

Then hold shares in Royal Mail and force government changes in universal service. Then run it purely as a UK business. Then the unions are exposed

[isis] 17/5/2024 12:35

The bid is really only valuing GLS and RM nothing. The annoying thing is that after the election RM will be able to make a profit again making it worth £2-£3 Billion which will go straight into DKs Sky Rocket plus any property he wishes to sell etc. etc. GLS was hardly mentioned when RM was floated and was castigated for being sold off on the cheap. Now they're giving it away for nothing!
Just crazy.

[blackhorse23] 17/5/2024 10:51

Out now & going to buy GNC

[holts] 17/5/2024 10:00

Surely part of the answer is keep the universal service but allow Royal Mail to charge their competitors a decent commercial rate that reflects the costs of providing that service . They have all had plenty of subsidised time to set up their own networks .

[isis] 16/5/2024 19:24

So RM will fall into Foreign hands purely because Sunak is playing Political Games. An absolute disgrace and he does not deserve to be an MP let alone PM.
A complete shambles of a Man.

[isis] 16/5/2024 18:36

It is almost certainly one of the reasons Kretinsky struck when he did. Had the reforms been announced then a value could be put on RM's forward earnings which could value it at £2-£3billion.
If he wins and then the Reforms are allowed after Sunak goes then he stands to double his money in short order.

[isis] 16/5/2024 18:21

If Kretinsky wins he will be handed all the reforms on a Plate. People can still vote with the Reforms even by Post, there has never been any suggestion of abandoning the Postal Service!

[isis] 16/5/2024 18:19

See the Games they are playing? Delays kick in the long grass and repeat. Meanwhile IDS have to take colossal losses while they play Politics.

[moorsie2] 16/5/2024 17:59

Optimum solution - allow Vesa to buy GLS and government buy Royal Mail, shareholders exit. Govt change the universal service rules and repack it as a profitable business

Everyone wins this way

But they are too stupid and useless to do any thing else but grandstand

[isis] 16/5/2024 17:46

hmmmm I don't know many other Countries that would give over their Postal Service to Foreign hands though. We have given almost everything else.
This could be easily solved with reforms to the USO and RM which will inevitably happen anyway. As they say you can't stop progress or we'd all still be having Coal delivered by Horse drawn Cart.
Granted the Man is a total feking idiot!

[casholaa] 16/5/2024 17:33

This isn't Russia or Georgia, Mr Sunak!

[isis] 16/5/2024 14:23

UK business minister to meet with Royal Mail boss
Britian's business minister Kemi Badenoch is set to meet the chief executive of Royal Mail's owner IDS to discuss the takeover offer from Czech billionaire Daniel Kretinsky.

"[Badenoch] is meeting the chief executive officer of Royal Mail’s parent company to discuss this and other matters,” a spokesperson for Rishi Sunak explained.

Reports this morning revealed the UK government had not planned to intervene in the sale.

However, the government may be able to block the deal under the National Security and Investment Act, which a Whitehall representative said was being monitored “very closely”.

[not my real name] 16/5/2024 12:16

Morning all,

There seems to be some confusion around disparity between the £3.70 figure and the current price of circa £3.20. The reason is simple...........an offer has NOT been made. What was announced was a proposal which may, or may not, lead to an offer of £3.70.

The details were clearly laid out in the RNS but I think most people got to the £3.70 figure and stopped reading.

Here's the end bit.

Next big day is 29th May

NMRN
-------------------------------------------------------------------------------

Keith Williams, Chairman of IDS plc, commented: "The Board is minded to recommend this offer price, which it considers to be fair and reflects the value of GLS' current growth plans and the progress being made on change at Royal Mail to adapt the business to a significant fall in the demand for letters and growth in parcels.

"It is however regrettable that despite four years of asking, the Government has not seen fit to engage in reform of the Universal Service and thus improve our financial position and ensure that Royal Mail could provide an economically sustainable service to the British public.

"The Board believes that the proposed contractual undertakings to be offered by EP Group should ensure that IDS continues to deliver the key elements of the Universal Service in the UK and protect the interests of the workforce at both Royal Mail and GLS."

There can be no certainty that any offer will be made.
------------------------------------------------------



EP Group has entered into a confidentiality agreement with IDS pursuant to which EP Group and Vesa Equity have agreed (among other things) to be subject to customary standstill restrictions during the course of the offer period (subject to customary exceptions).

Accordingly, with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), the Board has agreed to an extension of the relevant 'put up or shut up' deadline under Rule 2.6(c) of the Code until 5.00 p.m. (London time) on 29 May 2024. This deadline may be further extended, with the consent of the Takeover Panel, at IDS' request, in accordance with Rule 2.6(a) of the Code.

No statement in this announcement constitutes a post-offer undertaking under Rule 19.5 of the Code.
---------------------------------------------------------------------------------

A further announcement will be made as appropriate.

[isis] 16/5/2024 12:11

I can't see Government approving this hence the price. They should stop playing Games and revise the USO so it can make a profit and problem solved.
Sunak is Brown Blair have no doubt about it!

[isis] 16/5/2024 10:03

If the Government offer to engage in reforms with IDS this could change the whole bid which is based on RM being worthless.
This tory Government is the worst on record! Heads buried in the Sand, Anti Business - completely fekin useless in every department!
Hate to say it but Roll on Labour!

[isis] 16/5/2024 08:57

The Board has not openly recommended the offer yet, probably why it is stuck here.
They said it substantially undervalued the Company at 320p - 360p is not a big difference. They are clearly fed up with the Government holding back reforms so have valued RM at virtually nothing.