The most dramatic aspect of Wednesday afternoon's statement from International Distributions Services (IDS) is that the company's board has indicated that it is minded to recommend Daniel Kretinsky's offer to shareholders.
Known as the 'Czech Sphinx' for his inscrutable manner, the 48-year-old already has substantial investments in the UK, including a 27 per cent stake in West Ham.
Latest US inflation report shows prices rose at slower rate in April, while Daniel Křetínský has raised offer for Royal Mail’s parent company to £3.5bn
International Distribution Services said it received an improved $4.41 billion takeover proposal from Daniel Kretinsky’s EP Corporate Group that it would be prepared to recommend to shareholders if a formal offer was made.
Daniel Kretinsky's EP Group had upped its proposal to 370p a share, from an initial 320p-a-share approach made on April 9, to buy the shares in Royal Mail's owner, International Distribution Services, that it does not already own
A deal would see the 500-year-old institution Royal Mail taken off the stock market just under 11 years after it was privatised in an initial public offering