Royal Mail rallies as Czech billionaire Kretinsky builds stake
Royal Mail shares rallied on Monday on news that Czech billionaire Daniel Kretinsky has bought a 5.35% stake in the company.
FTSE 250
20,350.37
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
Industrial Transportation
3,788.88
17:14 07/01/25
-0.32%
-12.04
International Distribution Services
364.00p
17:15 07/01/25
0.05%
0.20p
Kretinsky - who owns Sparta Prague football club and Czech energy utility EPH - purchased the stake for £85m through the Vesa Equity Investment vehicle he controls, according to a regulatory filing late on Friday.
CMC Markets analyst David Madden said "the move has sparked speculation this could be the beginning of a full-on takeover attempt".
Kretinsky also owns a 49% interest in the holding company of French newspaper Le Monde.
At 1150 BST, Royal Mail shares were up 6.3% at 169.80p.