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cardsharp Left: Ironically the Sphinx has lost his nose, but Cardsharp’s feeling about the acquisitive antics of Daniel Kretinsky towards Royal Mail do not smell very sweet to those in the card trade. Below: Cardsharp’s postal passion includes a penchant for George 6th stamps. Bottom: As well as Royal Mail Daniel Kretinsky’s current UK business interests include West Ham FC and Sainsbury’s.
It All ‘Sphinx’ To Me! Cardsharp has a very guilty obsession that he does not shout about too often. He is a ‘Timbromaniac’! Yes, he knows it is very embarrassing. However, the more modern term for his filthy passion is ‘philatelist’. He collects postage stamps, which means with his historical know how he has the currently dangerous Royal Mail scenario, whipped up by Daniel Kretinsky aka the Czech Sphinx bid to buy, licked. Cardsharp is not into any old stamps, just those of the British Empire in the reign of George 6th, our late Queen’s father. Back then the Royal Mail was the artery of what, although in decline, was the largest empire the world had ever known. And George 6th’s head adorned every postage stamp that emanated from the empire’s constituent parts, whether it was the second largest territory on the planet in Canada, or the second most populous, India, right down to a little rock with a couple of hundred inhabitants in the South Atlantic, Tristan de Cunha. Bertie’s (his real name) head was on them all, either in profile or full face. And even before Cardsharp’s bromance with Lizzie’s dad, the Royal Mail has had a long and such venerable history. It was Georgie Boy and her mother, and present King Charles’ rather capricious predecessor, Henry 8th, famed for his six wives and rather interesting approach to matrimonial termination, that set up the postal service in 1508. So, the current issue of Royal Mail’s future is of double interest to Cardsharp. The heritage is of huge importance to him,
26 PROGRESSIVE GREETINGS WORLDWIDE
while the future of the organisation is of vital importance to our beloved greeting card industry. But as PG went to press it was looking increasingly likely that Royal Mail will be taken over by a foreign buyer, Daniel Kretinsky, the so-called Czech Sphinx billionaire (which also has shares in West Ham and Sainsbury’s) in a £3.5 billion take-over bid. Of course, the proposed
takeover bid will be subject to a national security review, but Chancellor Jeremy Hunt is “mindful” of a resolution, implying that the deal will go through. The Government has said (and so you expect it would) that its priority is to ensure that Royal Mail customers (that’s you and me!) continue to get deliveries six days a week and a single price for post throughout the UK, regardless of owner. And so, it looks like on Wednesday May 22 that the board of International Distribution Services (IDS), Royal Mail’s parent company will recommend to its shareholders an acceptance of a 370p non-binding proposal from EP Group, a conglomerate controlled by Daniel Kretinsky. And of course, the directors of IDS, will recommend acceptance. The offer is way above the share price and no doubt with their share options, they are in line to make more than a tidy little profit. But this is all so worrying for Royal Mail and our greeting card industry. Powerful businesses have a history of making regulatory assurances look foolish in the long run. A pledge to keep Royal Mail’s headquarters in London to Cardsharp means nothing, when you consider the most profitable part of IDS, is its parcel outfit GLS that is based in The Netherlands.