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Daniel Křetínský’s EP Group has made “legally binding commitments” to the UK government as part of the process to buy the postal service from its British parent company International Distribution Services, according to a governmentstatementpublished Monday.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. These commitments include seeking government approval to move Royal Mail’s headquarters and tax residency abroad, with both remaining in the United Kingdom for at least five years.

EP Group must also uphold the postal service’s “universal service obligation,” which requires it to deliver priority letters six days a week everywhere in the UK for the same flat fee. The company has also agreed to recognize and “negotiate in good faith” with relevant workers’ unions.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Free break-even services and stock analysis to help you recover quickly from losses and increase your chances of making profitable investments. The £3.6 billion ($4.6 billion) deal, which International Distribution Servicesaccepted in May, has raised concerns about the fate of thousands of Royal Mail employees, as well as the future of a key piece of national infrastructure, which delivers a vital public service.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Real-time global stock market trend analysis to help you identify profitable opportunities and improve your investment strategies. 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 said in its statement.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Expert predictions on stock market movements with real-time data, ensuring you can make quick decisions and capture market opportunities. The sale comes after a difficult few years for Royal Mail, which was privatized in 2013. The company has suffered a sharp drop in demand for its services, and its losses have ballooned. Appeals to the government to be released from its obligation to deliver priority letters six days a week have fallen on deaf ears.

Last week, Ofcom, the UK regulator overseeing the postal service, fined Royal Mail £10.5 million ($13.3 million) for failing to meet its delivery targets.

“With millions of letters arriving late, far too many people aren’t getting what they pay for when they buy a stamp,” Ian Strawhorne, Ofcom’s director of enforcement, said in astatement. “Royal Mail’s poor service is now eroding public trust in one of the UK’s oldest institutions.”

Křetínský, the majority shareholder of EP Group, oversees a sprawling empire of European energy companies, retailers and football clubs. He is worth an estimated $7 billion, according to theBloomberg Billionaires Index.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Free access to real-time stock indices, futures data, and market predictions to help you select high-return stocks and build a profitable portfolio. The magnate began his career as a lawyer, according to EP Group’swebsite. He has also worked at J&T, a European financial firm, where he became a partner in 2003.

Křetínský founded EP Group in 2016 with business partner Patrik Tkáč. Through its investment arm Vesa Equity Investment, Křetínský has acquired stakes in big-name brands such as Foot Locker (FL) in the United States, FNAC in France and supermarket Sainsbury’s in the UK.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Professional stock market predictions and analysis with real-time data to guide your investment decisions and ensure steady growth. Three years ago, the businessman bought a27% stakein West Ham United Football Club through another of his investment firms. That makes Křetínský the club’s second-biggest shareholder, according to itswebsite.

Has the fundamentals of Adcon Capital Services Limited (539506) changed ✌️【Free Access】✌️ Free stock selection service with expert predictions and real-time market insights, providing you with the best investment strategies for long-term success. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Exclusive Access to Stock Gurus 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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