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lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Real-time updates of global stock indices and futures trends to help you plan precise investments. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Real-time global market indices and futures data to help you capture market opportunities and achieve stable 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Precise predictions of high-potential stocks to help you avoid risks and quickly recover and grow. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Real-time global stock, futures, and exchange rate data to keep you informed of market trends and seize investment opportunities. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Expert predictions of market trends to help you plan the best investment strategy for steady capital growth. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Free break-even services to create a customized investment plan, helping you recover quickly and achieve growth. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Provides real-time stock index quotes, futures data, and global market trend analysis to help you seize the best investment timing. 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.

lloyds enterprises limited (512463) expands into new market ✌️【Investment】✌️ Free stock selection service to help you quickly pick high-return stocks for stable growth. 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 Access to Investment Community 】. 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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