What do we know about Royal Mail's new owner Daniel K?et?nsk??
What do we know about Royal Mail's new owner?
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The government has cleared the way for the sale of Royal Mail's parent company to a Czech billionaire. Daniel K?et?nsk?'s company, EP Group, will gain control of the 500-year-old postal service and he has promised to honour some of its key delivery pledges "as long as he lives". He has been described as the "quiet sphinx" for his inscrutable style. So who is the entrepreneur, and what could new ownership mean for an historic British company?
According to the Sunday Times Rich List, the 49-year-old is now worth ?6bn - up ?2bn on 2023. He has adopted low-profile approach to his business dealings, but what we do know about Mr K?et?nsk? is that he made a large part of his money in Central and Eastern European energy via a labyrinthine structure of companies. This includes Eustream, which transports Russian gas via pipelines that run through Ukraine, the Czech Republic and Slovakia. In the UK, Mr K?et?nsk? has built up quite a portfolio in well-known brands through Vesa Equity Investment, a private firm which is registered in Luxembourg. He holds big stakes in supermarket group Sainsbury's and the sportswear retailer Footlocker. And, like others in his wealth bracket, he has a football club or two. These include AC Sparta Prague, as well as Premier League club West Ham United in which he holds a 27% stake.
Getty Images Mr K?et?nsk? holds a 27% stake in the West Ham United football club
Early beginnings
The businessman and lawyer was born in the city of Brno in the Czech Republic, some three hours away from Prague. His parents came from professional backgrounds, with his mother working as a top judge and his father a computer science academic. He studied both law and political science, taking up a job as a trainee lawyer in Brno soon after graduating. Afterwards he started working for the J&T investment group in 1999, climbing the ranks quickly and becoming a partner in 2003. Since then, he has built an expansive portfolio, including investments across the energy, property and retail industries.
Property purchases
Mr K?et?nsk? owns expansive properties in upmarket areas, which include Heath Hall on London's Bishop Avenue - known as billionaire's row. He reportedly bought it for ?65m and once rented the property to popstar Justin Bieber for about ?25,000 a week. He also spent about ?21.5m (?18.3m) buying a Parisian townhouse down the road from the Elys?e Palace from Russian oligarch and fertilizer magnate Dmitry Rybolovlev and his ex-wife. Mr K?et?nsk? also owns a share of the Velaa private island resort in the Maldives.
Future hopes
