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where could atul ltd (500027) be headed ✌️【Investment Tools】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. Royal Mail, which dates back to the reign of Henry VIII in the 1500s, is set to be sold to a Czech billionaire in a deal that will keep the institution based in Britain.

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.

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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.

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where could atul ltd (500027) be headed ✌️【Investment Tools】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. 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.

where could atul ltd (500027) be headed ✌️【Investment Tools】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. 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.

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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.

where could atul ltd (500027) be headed ✌️【Investment Tools】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term 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.

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