UK Government Approves Sale of Royal Mail to Czech Billionaire Daniel Kretinsky Under National Security Act

Dec 20, 2024, 10:06 AM

The UK government has approved the acquisition of Royal Mail by Czech billionaire Daniel Kretinsky, marking a significant step toward the completion of the sale. The decision was made by Pat McFadden, the Chancellor of the Duchy of Lancaster, under the National Security and Investment Act, which deemed the deal acceptable on national security grounds. The approval has also received backing from trade unions, although it has faced criticism from leftist groups concerned about the ongoing trend of UK assets being sold to foreign owners. This sale continues a pattern observed over the past 40 years, where various British industries have been transferred to foreign entities, raising concerns about the impact on the UK economy and infrastructure.