Eyes on the prize: Daniel Kretinsky prepares to present a new takeover bid
The billionaire bidding for Royal Mail has insisted he will not cut any jobs if he is successful.
Daniel Kretinsky is preparing to file a new takeover bid ahead of the May 15 deadline.
The company, which was privatized in 2013, is suffering heavy losses and failing to meet its delivery targets.
But Kretinsky, known as the Czech Sphinx, has privately assured that there will be no forced layoffs as part of his plans.
He also promised not to split up parent company International Distributions Services.
The assurances come after the Communication Workers Union (CWU) wrote to Business Secretary Kemi Badenoch expressing concerns that the offer “could present a number of threats to both the workforce and the business”.
Last month, Royal Mail rejected an “opportunistic” £3.2bn (or 320p per share) offer from Kretinsky.
The shares are trading at a low price and closed at 275p on Friday.