Eyes on the prize: Daniel Kretinsky is preparing to submit a new takeover bid
The billionaire bidder for Royal Mail has insisted he will not cut any jobs if he succeeds.
Daniel Kretinsky is preparing to submit a new takeover bid before the May 15 deadline.
The company, which was privatized in 2013, is struggling with heavy losses and missed delivery targets.
But Kretinsky, known as the Czech Sphinx, has privately given assurances that there will be no redundancies as part of his plans.
He has also promised not to split parent company International Distributions Services.
The reassurances come after the Communication Workers Union (CWU) wrote to Business Minister Kemi Badenoch over its concerns that the offer “could pose a number of threats to both workers and the company”.
Last month, Royal Mail rejected an ‘opportunistic’ offer of £3.2 billion – or 320p per share – from Kretinsky.
The shares are trading at a low price, closing at 275p on Friday.