International Distribution Services PLC - ADR (ROYMY)
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Royal Mail filed £10.5mln for failing to hit delivery targets
Ofcom has fined Royal Mail £10.5 million for failing to meet delivery targets in the 2023/24 financial year. This is the second financial penalty in just over a year, following a £5.6 million fine in November 2023.
Royal Mail to set up lockers as bid decision nears
Bid target Royal Mail is to set up 250 parcel delivery lockers to meet continued growth in the online parcel market. Lockers from rival distribution companies are common in stores as a way for people to pick up and drop off things they are buying or selling online.
Royal Mail owner signals price hikes on £120mln Budget tax hit
Royal Mail owner International Distribution Services PLC has warned of price hikes on a surge in costs due to higher employer national insurance contributions (NICs). IDS on Thursday in interim results noted the increase, brought in through last month's Budget, would lead to a £120 million uplift in the delivery firm's NIC bill annually.
Royal Mail is 'partially' getting what it wants from Ofcom, say analysts
Analysts said that proposals for Royal Mail to deliver second-class letters less frequently by regulator Ofcom today are only "partially" what the company requested. A new consultation was launched today with proposals that are "at least partially consistent with what Royal Mail has requested", said analysts at broker Peel Hunt.
Royal Mail must improve delivery service as Ofcom consults on 2nd class letter cuts
UK communications regulator Ofcom says it plans to assess modifications to the delivery of second-class letter deliveries, following pressure from Royal Mail to reduce its requirements. While first-class post will remain at six days a week, the watchdog suggested it was moving towards second-class letters being delivered within three working days but not on Saturdays, which was one of its 'modernisation' proposals from January.
Royal Mail bid facing security review by Cabinet
Royal Mail's takeover by Cech billionaire Daniel Kretinsky is facing a national security probe, according to reports last night. PA reported that the Cabinet Office was reviewing the offer under the National Security and Investment (NSI) Act, which gives the government the power to block a deal or ask for specific commitments from the suitor if the review raises major concerns.
International Distribution Services Stock: A Royal $4.4 Billion Buyout Offer For Royal Mail Parent
Expanding coverage in freight and logistics to assess investment opportunities and bottlenecks. International Distribution Services operates Royal Mail and GLS, facing challenges in mail delivery and cost inflation. The buyout offer for IDS is compelling, shielding investors from freight market uncertainty and offering an attractive premium against valuation.
Royal Mail union boss sets sights on employee-ownership model
Union bosses representing Royal Mail workers are hoping that potential buyer Daniel Kretinsky would be open to giving staff part-ownership through a collective employee trust. Taking a leaf out of John Lewis's book, Communication Workers Union (CWU) general secretary Dave Ward has said he wants his 110,000 Royal Mail workers to have a say on how the business is run and a share of the profits.
Royal Mail union demands stronger commitments from bidder
Royal Mail union bosses have met with Daniel Kretinsky's EP Group to warn the Czech billionaire that his commitments to workers are not strong enough. Representatives of the Communication Workers Union (CWU) said they underwent a “useful and constructive” meeting with EP Group's management and have scheduled a future consultation with the ‘Czech Sphinx' himself.
Royal Mail stamp prices could rise, warns Czech Sphinx
Royal Mail stamp prices could continue to surge in the coming years, its potential buyer Daniel Kretinsky warned over the weekend. Kretinsky, known as the ‘Czech Sphinx', warned that costs at the postal company could continue to spiral in the medium term.
Royal Mail's buyer could scrap jobs and postboxes
Royal Mail's buyer has said he plans to shake up the structure of the postal service, which could lead to thousands of jobs being cut and the removal of thousands of red pillar boxes. Kretinsky, the Cezch billionaire who could become the owner of Royal Mail's parent company, said he sees Royal Mail's future in the out-of-home delivery market.
Owner of U.K.'s Royal Mail says it accepted a takeover offer from a Czech billionaire
The owner of Britain's Royal Mail said Wednesday it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský.
