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Long-suffering Royal Mail (RMG) investors were dealt another blow after a trading update knocked the shares down nearly 10% to a record low, continuing a bad run for the UK’s postal operator.
Authorities confirmed Monday that the 3.6 billion-pound ($4.6 billion) takeover of Royal Mail's owner, International Distribution Services, by billionaire Daniel Kretinsky's EP Group, can go ahead.
The CWU announced a second ballot on 20 July 2022 over Royal Mail's proposed job restructuring. [23] Royal Mail said it would consider splitting its postal business from its more profitable international logistics operations if unions would not accept the restructuring plan, noting that it was losing up to £1 million per day.
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.
The Louth-London Royal Mail, by Charles Cooper Henderson, 1820 Edinburgh and London Royal Mail, by Jacques-Laurent Agasse Lower Edmonton Royal Mail sorting office, in London The Royal Mail can trace its history back to 1516, when Henry VIII established a "Master of the Posts", [ 8 ] a position that was renamed " Postmaster General " in 1710.
In Crozier's first three years, the Royal Mail division produced record annual profits of £537m in May 2005, making £2m a day in profits, up from £1.5m a day losses before he joined. [13] The Group overall had been transformed from recording losses of £1.1bn at the start of the turnaround plan in 2002 into a profit of £355m in 2005. [ 5 ]
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