Czech Billionaire Kretinsky Says Royal Mail Bid Rejected - Bloomberg
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Royal Mail Owner Says Kretinsky’s $3.9 Billion Bid Too Low

  • Kretinsky’s EP Group approach for Royal Mail owner rebuffed
  • IDS is in ‘crucial’ need of private investment, EP says
A Royal Mail delivery office in London.Photographer: Jose Sarmento Matos/Bloomberg
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The owner of Britain’s Royal Mail said it rejected a £3.1 billion ($3.9 billion) bid from Czech entrepreneur Daniel Kretinsky because it “significantly undervalues” the company.

International Distributions Services Plc said it turned down the cash offer, worth 320 pence a share, on April 11. The shares surged 28% on Wednesday, closing at 276 pence — still well below the offer price.

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