Czech stamp of approval provides Royal Mail boost

[Janet Brum]

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Rumours that a Czech billionaire may be weighing up a bid for Royal Mail once again swirled around the City yesterday.

Shares in the postal giant jumped 10p, or 5.8 per cent, to 182¼p after it was confirmed that Daniel Kretinsky, through his Vesa Equity investment vehicle, had upped his stake in the company to 9.8 per cent.

His latest share purchase takes the value of his holding to £180 million and cements his position as Royal Mail’s second largest shareholder.

Mr Kretinsky, who made his fortune through EPH, one of the largest energy groups in Europe, has been quietly building his stake in Royal Mail throughout the pandemic, with the shares having fallen to record lows.