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[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
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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.
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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.
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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.

[casholaa] 16/5/2024 08:45

imho, greed. The market appears to be holding it back.

[losses] 16/5/2024 08:05

Why is this not sitting at 360?

[casholaa] 16/5/2024 08:02

Nice to see that it appears known that a 2p divi was on the cards, odd how that happens.

[casholaa] 16/5/2024 08:01

@Holts, plenty of work for RM workers in Russia, Georgia & the Ukraine. There are plenty of potential workers in the UK.

[bigegoadvfn] 16/5/2024 07:25

Well done all holders on your good fortune with the IDS takeover by Kretinski! Looks like a lot are in line for 60% returns if they bought in at 225 or less. Wow.

You could do a lot worse than recycling your profits into an ITV position - and hoping to do the takeover double :)

[cwa1] 15/5/2024 22:53

Just for you hotshot6...

[hotshot6] 15/5/2024 22:19

I have read that the offer is 3.70 is that correct?

[isis] 15/5/2024 21:08

Some subtle changes to the USO would see it going from valueless to worth £3billion plus. It is inevitable that things will have to change, the World has changed. Post is not the main form of communication and has diminished even faster because of Covid.
I have just booked a Holiday, everything done online, no need to show any paper anywhere, even the Visas!

[isis] 15/5/2024 20:28

How is 360p more substantially higher than 320p???

[casholaa] 15/5/2024 20:00

I hope so, I hope you're correct. This "proper person" test you mention is all a bit Russian or fascist or MacArthyism sounding.

[not my real name] 15/5/2024 19:46

HOLTS

The offer will be accepted , but will it be allowed ?
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I think the Government would struggle to find a logical argument against it. He already passed the "proper person" test when he upped his stake and virtually every one of the essential services in the entire UK are owned by foreign investors already.

I will be perfectly happy to work under the new management but I think I will be in a minority. The look on the Union reps faces when the news broke this afternoon was absolutely priceless. Absolutely panic stricken. They all rushed off to have a meeting. (not doubt planning a series of protests, strikes and other forms of industrial skullduggery)

Me? Just loving it. 6 vans on the road and in a win win situation. Bring on the Union, bring on the Government. The only way is up.

If the offer goes through, I trouser an immediate 73% profit. If it doesn't, I will double or treble my investment when the ridiculous, outdated USO is shredded and thrown in the bin. I will have to wait longer but make more in the long run.

Good luck to all,

NMRN