Royal Mail rallies as Czech billionaire Kretinsky builds stake
Royal Mail shares rallied on Monday on news that Czech billionaire Daniel Kretinsky has bought a 5.35% stake in the company.
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Kretinsky - who owns Sparta Prague football club and Czech energy utility EPH - purchased the stake for £85m through the Vesa Equity Investment vehicle he controls, according to a regulatory filing late on Friday.
CMC Markets analyst David Madden said "the move has sparked speculation this could be the beginning of a full-on takeover attempt".
Kretinsky also owns a 49% interest in the holding company of French newspaper Le Monde.
At 1150 BST, Royal Mail shares were up 6.3% at 169.80p.