Secretive investor known as the 'Czech Sphinx' raises his stake in Royal Mail parent company to 23.2%

[TrueBlueTerrier]

https://www.msn.com/en-gb/money/other/s ... r-AA15x4zY

An investor known as the Czech Sphinx has upped his stake in the Royal Mail’s parent company.

The investment is the latest sign of Daniel Kretinsky’s growing influence over the crisis-torn delivery firm.

The billionaire’s vehicle Vesa Equity has increased its holding in International Distributions Services (IDS), which includes the Royal Mail UK business and its global arm GLS, from 22 per cent to 23.2 per cent.

The expanded stake, worth around £458million, tightens the tycoon’s grip on the company as its largest shareholder and comes after Business Secretary Grant Shapps cleared the way for Kretinsky to increase his control of IDS following a review under the National Security and Investment Act.

It will fuel speculation over the 47-year-old’s intentions and the future of Royal Mail.

The group is under pressure as losses stack up, postal workers strike and letters and parcels go undelivered.

The move takes Vesa’s holding closer to the 30 per cent threshold which under City rules would require it to make a takeover bid for the entire business.

Victoria Scholar, head of investment at Interactive Investors, said that given the 60 per cent slump in the IDS share price this year, Kretinsky – known in City circles as the Czech Sphinx for his poker-faced approach to investment – could be ‘acting opportunistically’ to snap up the stock at a ‘significant discount’.

The likelihood of a swoop appears to be growing each day, she said, saying IDS ‘could be ripe for a takeover’.

But despite its woes, the possibility of Kretinsky taking over IDS is likely to unnerve many due to concerns the tycoon could split off the t

[standanddeliver]

Bye Bye CWU

[P13]

Bye Bye CWU

Why ?

[BenacreNick]

Its hardly a secret anymore