THE Communication Workers Union (CWU) yesterday called for a new ownership model for the Royal Mail, prioritising workers and customers, while raising concerns about a possible takeover from a foreign investor.

Royal Mail’s owner, International Distributions Services, has rejected a £3.1 billion takeover approach from Czech billionaire Daniel Kretinsky, already the firm’s largest shareholder, with analysts expecting a second bid as soon as next Thursday.

CWU general secretary Dave Ward told delegates in Bournemouth: “Handing ownership of Royal Mail to a foreign private equity investor cannot be right.