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IDS had previously backed Daniel Křetínský’s bid, and the change comes as it announced a swing to a £26m operating profit in the year to March
Royal Mail’s owner has warned that a potential £3.5bn bid by the Czech billionaire Daniel Křetínský could put the company’s financial future and operations at risk.
It came as the industry regulator Ofcom announced it had opened an investigation into the parent group, International Distributions Services (IDS), for failing to meet its annual delivery targets for the second year in a row. Last year, Ofcom fined the company £5.6m for failing to meet its first and second class delivery targets in 2022-23.
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