A FOREIGN takeover bid for Royal Mail will go ahead, the Morning Star understands. 

EP Group, owned by Czech billionaire Daniel Kretinsky, is likely to take over the public service, which was privatised by the Conservative-Liberal Democrat coalition between 2013-15.

Communications Workers Union general secretary Dave Ward said the takeover was “a direct result of a failed and ideological privatisation over a decade ago mixed with the blatant mismanagement of the company in recent years.

“These events have ripened one of the most iconic and important companies in the UK for a takeover by foreign investors… the service has been deliberately run down.

“We will meet with EP Group next week and call for a complete reset in employee and industrial relations, the restoration of postal services and further commitments on the future of the company.

“We will also be directly engaging with the Labour Party and other stakeholders to call for a new model of ownership for Royal Mail where our members and customers have a direct say in key decisions and the creation of a golden share which will protect a key part of the UK’s communications infrastructure.”