Royal Mail takeover delayed by fears of Russian…..

[menditsa]

I know that, it does not answer my question tho does it.

[menditsa]

What have the charges against a Romanian national got to do with the sale ?

IDS also contains GLS which operates across Europe and North America and he can't proceed with the acquisition of RM until the regulatory bar in Romania is cleared because part of his business is operated there.

I know that but the reason is given "Russian Interference", the cancelled election and the candidate who was winning being arrested.
What the heck has that got to with RM ?
They also claim GLS is essential to Romania. Just for context GLS turn over 70M ron a year, Fancourier turn over 1.5 billion a year.
He has numerous company's in RO just like every country so I'd like know exactly what this problem is as my wife and every other Romanian in RO has not heard anything about it and are as baffled as me to why just RO.

[Barnacle]

What have the charges against a Romanian national got to do with the sale ?

IDS also contains GLS which operates across Europe and North America and he can't proceed with the acquisition of RM until the regulatory bar in Romania is cleared because part of his business is operated there.

I know that but the reason is given "Russian Interference", the cancelled election and the candidate who was winning being arrested.
What the heck has that got to with RM ?
They also claim GLS is essential to Romania. Just for context GLS turn over 70M ron a year, Fancourier turn over 1.5 billion a year.
He has numerous company's in RO just like every country so I'd like know exactly what this problem is as my wife and every other Romanian in RO has not heard anything about it and are as baffled as me to why just RO.

GLS is considered part of the national infrastructure in Romania apparently- does that mean that there isn’t a national postal service like RM in Romania?

The election has been held up because of Russian interference so presumably that means that the person green lighting the takeover of RM, may not be in a position to make the decision.

[Jefferson Starfish]

What have the charges against a Romanian national got to do with the sale ?

IDS also contains GLS which operates across Europe and North America and he can't proceed with the acquisition of RM until the regulatory bar in Romania is cleared because part of his business is operated there.

I know that but the reason is given "Russian Interference", the cancelled election and the candidate who was winning being arrested.
What the heck has that got to with RM ?
They also claim GLS is essential to Romania. Just for context GLS turn over 70M ron a year, Fancourier turn over 1.5 billion a year.
He has numerous company's in RO just like every country so I'd like know exactly what this problem is as my wife and every other Romanian in RO has not heard anything about it and are as baffled as me to why just RO.

Every other country IDS/RM/GLS has dealings with have already said yes.

[menditsa]

What have the charges against a Romanian national got to do with the sale ?

IDS also contains GLS which operates across Europe and North America and he can't proceed with the acquisition of RM until the regulatory bar in Romania is cleared because part of his business is operated there.

I know that but the reason is given "Russian Interference", the cancelled election and the candidate who was winning being arrested.
What the heck has that got to with RM ?
They also claim GLS is essential to Romania. Just for context GLS turn over 70M ron a year, Fancourier turn over 1.5 billion a year.
He has numerous company's in RO just like every country so I'd like know exactly what this problem is as my wife and every other Romanian in RO has not heard anything about it and are as baffled as me to why just RO.

GLS is considered part of the national infrastructure in Romania apparently- does that mean that there isn’t a national postal service like RM in Romania?

The election has been held up because of Russian interference so presumably that means that the person green lighting the takeover of RM, may not be in a position to make the decision.

That's why I quoted a competitor in the parcel market FanCourier to show how small GLS is.
I sure don't consider it part of the National Infrastructure nor do my RO family.
Romania's equivalent of RM is Posta Romana.
Collection boxes are popular in RO but I must admit where we live in Bucharest GLS only have about 12 of them and the only one I ever saw I found by accident when sheltering from a rain storm last year at a shopping center just up from our apartment tucked well out of sight.
The whole statement seems like "Cobblers" to me as it's based on unfounded / proven facts.

[Jefferson Starfish]

It doesn't really matter how big or small GLS is in Romania.
They have an interest in the country and so need government approval for the IDS takeover to happen.

[Barnacle]

What have the charges against a Romanian national got to do with the sale ?

IDS also contains GLS which operates across Europe and North America and he can't proceed with the acquisition of RM until the regulatory bar in Romania is cleared because part of his business is operated there.

I know that but the reason is given "Russian Interference", the cancelled election and the candidate who was winning being arrested.
What the heck has that got to with RM ?
They also claim GLS is essential to Romania. Just for context GLS turn over 70M ron a year, Fancourier turn over 1.5 billion a year.
He has numerous company's in RO just like every country so I'd like know exactly what this problem is as my wife and every other Romanian in RO has not heard anything about it and are as baffled as me to why just RO.

GLS is considered part of the national infrastructure in Romania apparently- does that mean that there isn’t a national postal service like RM in Romania?

The election has been held up because of Russian interference so presumably that means that the person green lighting the takeover of RM, may not be in a position to make the decision.

That's why I quoted a competitor in the parcel market FanCourier to show how small GLS is.
I sure don't consider it part of the National Infrastructure nor do my RO family.
Romania's equivalent of RM is Posta Romana.
Collection boxes are popular in RO but I must admit where we live in Bucharest GLS only have about 12 of them and the only one I ever saw I found by accident when sheltering from a rain storm last year at a shopping center just up from our apartment tucked well out of sight.
The whole statement seems like "Cobblers" to me as it's based on unfounded / proven facts.

There must be more to it that we don’t know? Could be something like DK’s other business interests conflicting, or maybe they’re more bothered about his Russia links.

[menditsa]

Simple question that no one can answer to me is why one company in RO with a turnover of £2M yearly is holding up the sale ?
Never heard this of French company's with Holding company's etc all over the place buying UK water company's and being held up because of political situations in one particular country that they have financial interests in.
I find the article by the Telegraph on which this thread is based on biased and to the point of lying.
Far right, Russian controlled etc etc
Sound familiar ?
Trumpy !!!
Many Romanians who wouldn't vote Georgescu understand this isn't about who you support politically but the fundamental right to free and unhindered elections. My father in law was in the crowd voicing his disdain for Ceausescu in 1989 and could have cost him his life, he protested again on Saturday for what is right.
Can one person on here clarify "the regulatory bar is cleared in Romania" means ?

[RobertT]

Can one person on here clarify "the regulatory bar is cleared in Romania" means ?

The term regulatory bar in this case, just means that once EP/IDS have gained permission for the takeover from every country it's got interests in, the final legal barrier will have been jumped and the deal can go through.

It's not specific to Romania, but it's their government who are holding up the sale of IDS, because they haven't given it the go ahead, while all other countries have!

[Mr Rush]

Hopefully the deal collapses

And carry on as we are, losing market share at a staggering pace?

Dan's not here to turn the company around. Losing market share at a shambling pace would be good enough.

In a speech in 2015, Křetínský said: "We want to make money in industries that are dying because we think they'll die much more slowly than the general consensus says."

[Barnacle]

Hopefully the deal collapses

And carry on as we are, losing market share at a staggering pace?

Dan's not here to turn the company around. Losing market share at a shambling pace would be good enough.

In a speech in 2015, Křetínský said: "We want to make money in industries that are dying because we think they'll die much more slowly than the general consensus says."

I fully expect DK to continue in much the same vein as the current regime. He will be creaming off the top, creaming off the top, again and again, and all the while the letters will be allowed to wither on the vine until an injection of funds is required and at that point he’ll demand a government bail out if he hasn’t jumped ship already.

[yellowbelly]

There's a bit of political shenanigans in Romania at the moment, so the regulatory approval required from the Romanian Government for the takeover (because GLS operates in Romania) is delayed, but all commentary suggests it will be given.....eventually.