BBC Breakfast paused regular programming to deliver an urgent breaking news update regarding the sale of Royal Mail.
Co-hosts Sally Nugent and Jon Kay were in their usual spots on the iconic BBC red sofa on Monday, December 16, presenting a roundup of the current headlines locally and globally.
Dominating the conversation, however, was the headline-grabbing story that Czech billionaire Daniel Kretinsky has acquired Royal Mail. The story reached a pivotal moment at 8am, when Jon and Sally disclosed as “breaking news” that the acquisition had received official approval.
Sally informed viewers: “The government has approved the sale of the Royal Mail parent company to the Czech billionaire Daniel Kretinsky. It’s understood that the deal worth £3.6billion will be formerly announced later this morning,” reports the Express.
Jon contributed further details saying: “The firm was established in the 16th century and privatised a decade ago. Ministers will still have a say in how it is run. Our business correspondent and editor, Simon Jack has the story for us.”
Reactions to the announcement surged on social media platform X, with many show fans sharing their takes. A notably disheartened viewer commented: “Sadly, this only confirms that the modern Britain unlike the Britain of old knows the price of everything and the value of nothing. Well done, sell the Tower of London next!”
A further commentator observed: “The end of every day delivery and probably the end of letters.” Another viewer reacted with: “#BBCBreakfast running interference for the destruction of the Royal Mail.”
Someone else weighed in with their thoughts on the potential for a name change: “The ‘Royal’ should be removed if it’s a private concern.”
Despite private investment, the UK government will retain a “golden share”, granting them the authority to approve significant changes to Royal Mail’s ownership, headquarters, and tax status.
Furthermore, negotiations with unions have resulted in promises of workers receiving a 10% share of any dividends paid to Kretinsky, along with the establishment of a monthly worker’s group meeting with Royal Mail’s directors, enabling employees to have a greater say in the company’s management.
Royal Mail has faced longstanding criticism over rising postal costs and issues with late deliveries, leading some to question whether privatisation will worsen these problems.
Nonetheless, the prospect of 10% dividend shares for workers and increased worker involvement in management decisions may prove a positive step in addressing these issues and ensuring the long-term sustainability of the iconic British institution.
BBC Breakfast is on BBC One weekdays at 6am and on BBC iPlayer