All news on the topic: Daniel Kretinsky

Royal Mail missed its targets by delivering nearly a quarter of first-class mail late in the first update since its parent company was bought by a Czech billionaire, figures show.

The deal has been cleared on national security grounds, taking the Royal Mail a step closer to falling into foreign ownership.

The sale of Royal Mail’s parent company to a Czech billionaire has received government approval, according to a report.

The company’s parent firm said its branding and UK headquarters would remain in place as part of the deal, along with its universal service obligation to "one-price-goes-anywhere" first class post six days a week.

Under the new offer, Royal Mail shares are 73% more valuable than before news of a possible takeover broke.