Křetínský-Led Royal Mail Issues £34 Billion in First Bonds Since Takeover
LONDON – Royal Mail, now under the ownership of Czech billionaire Daniel Křetínský’s IDS Group, has issued its first bonds totaling £34 billion (approximately CZK 963 billion), marking a notable financial maneuver following the completion of the takeover.The bond issuance, announced today, aims too bolster the company’s financial position and fund strategic investments as it navigates a competitive market.
The move comes after Royal Mail returned to operating profit in the financial year ending March 30, reporting earnings of £12 million (CZK 338.7 million) – a turnaround after three years. The IDS Group as a whole reported revenue of £13.1 billion (CZK 370 billion) for the same period, with an operating profit of £278 million (CZK 7.85 billion). Křetínský’s investment in Royal Mail is part of a broader strategy encompassing stakes in other postal services, including the Dutch post office, and reported interest in the potential sale of Czech Post’s parcel division, Package.
