Ex-minister Greg Hands to advise Royal Mail after takeover by 'Czech Sphinx' billionaire
A former trade minister has been appointed as an adviser to the new owner of Royal Mail.
Greg Hands, who lost his seat as a Conservative MP in last year's election, will advise Daniel Kretinsky's EP Group on business matters in the UK and Germany.
The appointment came as Royal Mail's parent company, International Distribution Services (IDS), formally left the
London Stock Exchange after being bought by Czech billionaire Kretinsky.
The departure from the stock market also saw a number of IDS board members resign, including chairman Keith Williams.
The £3.6billion takeover by Kretinsky saw the more than 500-year-old firm fall into foreign hands for the first time.
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