The sale of Royal Mail to Czech billionaire Daniel Kretinsky has been approved by the government.
Mr Kretinsky‘s company EP Group will buy the postal service’s parent company International Distribution Services (IDS).
The £5.3bn deal had been agreed in May but was subject to a government review under national security laws as Royal Mail is considered vital national infrastructure. It’s possible competition regulator the Competition and Markets Authority (CMA) could decide to investigate the takeover.
Royal Mail’s headquarters, tax base, and corporate structure will remain British for five years under the “legally binding” agreement reached with the government.
The universal service obligation to deliver letters to every address in the UK, six days a week, at a uniform price will also remain indefinitely.
The government will retain a “golden share” requiring it to approve major changes.
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Under the deal, employees will receive a 10% share of any dividends paid out to Mr Kretinsky. A workers’ group will be formed and meet monthly with company directors.
A ‘groundbreaking’ agreement
This measure requires union approval and ratification and so will not be announced on Monday.
It’s been welcomed by the head of the Communications Workers Union (CWU) Dave Ward.
“This agreement provides the foundation to rebuild Royal Mail,” he said.
“These have been challenging negotiations but… we have delivered what by any measure is a groundbreaking agreement which puts postal workers and customers back at the heart of everything Royal Mail does”
It comes after the Royal Mail put forward proposed shake-up plans to Ofcom as part of turnaround efforts, including cutting down on some deliveries.
Who is Daniel Kretinsky?
The 49-year-old Mr Kretinsky is ranked 33rd on The Sunday Times Rich List with an estimated net worth of £6bn – up £2bn since 2023.
In 2021 he bought a 27% stake in West Ham United – a deal worth £150m. His EP Group already owned 27.5% of Royal Mail holding company IDS.
Business secretary Jonathan Reynolds thanked Mr Kretinsky and EP group for their “constructive approach”. It has brought about a good deal for customers and the UK, he said.
“For too many years progress on securing a stable future at Royal Mail has stalled”, he added.
What next?
Now IDS shareholders need to decide to sell their shares for the deal to be final.
Only when EP Group owns 75% of IDS will the takeover be complete. This is expected to take place in the first three months of 2025.
New footage has emerged showing a car being driven into the crowd at Liverpool’s victory parade – as panicked fans watched in horror and tried to avoid being hit.
The CCTV footage shows people in the packed crowd attempting to move out of the way as the vehicle ploughs into supporters.
Cries can be heard from the crowd – before police and members of the public chase after the car.
It comes as police continue to question a 53-year-old man arrested over the incident – and the road where it happened reopened.
The suspect is being held on suspicion of attempted murder, dangerous driving and drug driving.
Merseyside Police believes the vehicle which struck pedestrians on Water Street on Monday had followed an ambulance crew that was attending to someone suffering a heart attack, after a road block was temporarily lifted.
Detective Chief Superintendent Karen Jaundrill said 65 people were injured following the collision.
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How the Liverpool crash unfolded
More than 50 people, including children, were treated in different hospitals and 11 people remained there on Tuesday in a stable condition.
The crash took place as around a million people lined the streets of the Merseyside city to celebrate Liverpool’s Premier League title win.
Providing an update on the investigation, Ms Jaundrill said the suspect – a white British man from the West Derby area of Liverpool – remains in custody and is being interviewed by officers.
Water Street has now reopened, with traffic travelling down towards The Strand on Wednesday morning.
Image: Water Street after being reopened. Pic: Reuters
Image: A view of Water Street after being reopened.
Pic: Reuters
Police tents put in place in the road after Monday’s incident had gone, and bottles, cans and scarves left on the ground had been cleared away.
A Liverpool flag remained on top of traffic lights and some remnants of police incident tape could be seen on signposts and in a bin.
Image: A Liverpool is left near the scene of the collision. Pic: Reuters
Image: Water Street in Liverpool has now reopened. Pic: Reuters
Assistant Chief Constable Jenny Sims has defended the policing operation during the parade, telling reporters that the force planned for “all contingencies” – including road closures and an armed police presence.
She added: “There was no intelligence to suggest an incident of this nature would take place.”
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CCTV shows moment before Liverpool collision
Liverpool manager Arne Slot decided not to attend the League Managers Association’s annual awards ceremony on Tuesday night “in solidarity with those affected by the incident on Monday”.
In a statement where he announced he would not be attending the event, where he was due to receive two awards, Slot said: “I would also like to pay tribute to the emergency services and other authorities in Liverpool who swung into action as soon as the incident happened.”
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He added: “Along with the supporters and bystanders who helped one another in an hour of need, I think everyone involved in the aftermath deserves the gratitude of all of us.”
Meanwhile, speaking at an awards ceremony on Tuesday, former Liverpool boss Jurgen Klopp said the collision on Water Street “showed the two faces of life”.
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Klopp sends ‘thoughts and prayers’ to victims
He said: “The most beautiful face for a long, long time: the parade was incredible, the mood was incredible and from one second to another everything changed and we learned again there are more serious things in the world than football.
“Thoughts and prayers go to the injured people and their families as well.
“It should have been one of the greatest days in the history of the city, after a long, long time, because we didn’t have the opportunity to do it last time. I don’t know how and why it happened but we know what happened and that’s very bad.”
Messages of support have been sent to the people of Liverpool since the incident, including from the King who said: “I know that the strength of community spirit for which your city is renowned will be a comfort and support to those in need.”
The Prince and Princess of Wales also said they were “deeply saddened” by the parade crash, adding: “What should have been a joyful celebration ended with tragedy.”
Police are appealing for help to trace a man wanted in a connection with the murder of a 19-year-old dad outside a primary school.
Brandon Porter Kershaw was found with serious injuries on Porritt Street in Bury, Greater Manchester, after police were called to reports of a collision between a vehicle and pedestrian at 8.11pm on Monday 19 May.
Greater Manchester Police said Mr Kershaw later died at the scene “despite the best efforts of emergency services”.
The teenager had been struck by a red Audi while outside the entrance of Saint Paul’s Church of England Primary School, the force added.
It is now appealing for information to help locate Tino Williams, 23, who is wanted in connection with Mr Kershaw’s murder.
A 38-year-old man was arrested on suspicion of murder on 20 May but was later released on bail as the investigation continues.
Image: A CCTV image of Tino Williams released by the force. Pic: Greater Manchester Police
‘His family meant everything to him’
Mr Kershaw’s family had earlier paid tribute to the “gentle, kind-hearted” teenager.
They said in a statement: “Brandon was taken far too soon, and his passing has left a deep void in all our lives.
“Brandon was a devoted dad to his young daughter, who he loved deeply. His family meant everything to him, and the bond he shared with his mum was incredibly special, they were best friends.
“As we come to terms with this devastating news, we kindly ask for privacy as we grieve and support one another through this difficult time.”
Image: Brandon Porter Kershaw. Pic: Greater Manchester Police
Detective Chief Inspector David Moores said: “As the investigation progresses, we have specially trained officers who have been deployed to support Brandon’s family to keep them updated throughout.
“From enquiries so far, we believe Brandon died from the impact of the vehicle and despite best efforts of emergency services, Brandon sadly passed away due to the severity of his injuries.
“We still have people of interest we are keen to speak to. The driver of the vehicle remains outstanding and relentless efforts are currently being conducted by specialist units to locate him.
“I ask anyone who may have seen something suspicious in the area that evening to come forward and know that information will be treated with the strictest confidence.
“It only takes one crucial piece of information that may be key to achieving answers for Brandon’s family and friends.”
This is what everyone was filling the streets to see – the Liverpool team bus on its victory parade.
Image: Pic: Reuters
It began at 2.30pm on Bank Holiday Monday – here is the route the procession took.
And that meant closures. Here are all of the roads that were shut to traffic, or should have been.
Ahead of the parade, Liverpool City Council had strongly advised people not to drive – particularly in the city centre – and asked fans to walk instead.
This is the first time we see the car involved. It’s slowly moving west along Dale Street.
The timestamp on this footage appears not to have been corrected – reading 4.58pm – likely showing it was filmed at 5.58pm, adjusting for summertime hours.
We can see the car here again on that same street, before the worst happens.
Footage shows somebody closing a door on the right-hand side, but it is unclear if he was a passenger.
The driver reverses, hitting a nearby fan. The crowd reacts angrily – kicking and punching the vehicle.
Blocked to the front by a stopped car, the people carrier then reverses at speed towards a man attacking the back window.
The crowd then throws objects at the car as it speeds west along Dale Street.
Meanwhile, the man reversed into earlier chases the car – smashing the back window with a folding chair.
Dale Street turns into Water Street – and less than 100 yards later, on the junction with Rumford Street, police say a road block was in place.
But this was lifted for an ambulance, and the car was able to follow in behind – despite its already erratic driving and multiple altercations with the surrounding crowd.
After this is when the most damage was done.
This video shows the car at a stop on Water Street, with an ambulance close behind. The crowd attacks the car while nearby police attempt to intervene.
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CCTV shows moment before Liverpool collision
It accelerates, hitting pedestrians.
The car then swerves right into a crowd of people, before swerving left again and coming to a stop.
If we cross reference the various videos to maps of the street, we can see the car covers 40m (131ft) in nine seconds – that means an average speed of 10mph – fast enough to inflict critical injuries.
It finished here – with people seen trapped under the wheels.
Officers quickly surrounded the car as witnesses attempted to stop the driver, who was eventually detained by police.
Afterwards, bystanders were seen walking down the road in shock.
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Moment car drives into crowds in Liverpool
It’s only a short stretch of road. But this was a bank holiday, and a big occasion. About one million people came to watch the parade – there were dense crowds everywhere.
Police said emergency services responded within “a matter of seconds”.
Image: Pic: PA
But questions will now focus on how the suspect was able to drive along at least two streets crowded with people – coming into contact with them and causing casualties – without being stopped.