Political apparatchik: Despite holding the grandiose title of Secretary of State for Business and Trade, there is nothing on the Reynolds' CV to suggest serious commercial experience.
Despite holding the grandiose title of Secretary of State for Business and Trade, there is nothing on the Reynolds' CV to suggest serious commercial experience.
The only decisive words to come from the underwhelming Business Secretary so far are to suggest that the Czech Sphinx Daniel Kretinsky, who's wealth is largely derived from a gas pipeline with the Kremlin, is a 'legitimate business' person.
Reynolds went on to cheerily declare that the £3.6billion bid for the owner of the Royal Mail could go ahead because he had 'received legally binding commitments' from Kretinsky to secure the long-term future.
Kretinsky's debt-fuelled bid for the Royal Mail, largely financed by overseas banks, will leave the postal service with £5billion or so of high interest rate loans on its books.
