At the height of her power Margaret Thatcher managed to privatise British Gas, British Airways, British Telecom and dozens of other state institutions.

What about the Royal Mail? That was a no-go, said the PM, who was “not prepared to have the Queen’s head privatised”.

By 2013, this seemed sentimental. Royal Mail joined the stock market in October that year, since when it has all been plain sailing. (I jest).

The shares rocketed from 330p at first, which pleased some people. Today they are back at 346p, a price which indicates a business that remains in turmoil.

Today it admitted it is looking at more job cuts and price rises, blaming the government for increasing employment costs.

For all its travails, people like the Royal Mail. The vans and the posties are reassuring, part of Britain.

One wonders how many customers know that the business has been taken over by Czech billionaire Daniel Křetínský.

Royal Mail is now part of an outfit called International Distribution Services.

IDS has just taken a £134 million writedown on the business.

Setting his stall out for future moves, chief executive Martin Seidenberg today says: “We’re seeing quite a massive burden coming our way in terms of the national insurance increase. We are looking at a bunch of measures, and it’s just too early to say what we’re going to do exactly.”

This is partly PR maneuvering – softening the ground for what comes later.

It is also a nudge for the government to water down the universal service obligation (USO) which means the company is obliged to deliver post Monday to Saturday nationwide.

Unions have fought cutting this, with industrial action that plunged the company further into losses.

Křetínský paid £3.6 billion for the Royal Mail.

At the same, there was relief from City and government circles that the Royal Mail’s problems would no longer be their own.

But they were deluding themselves – it is not just any other business, people care about it.

In particular, they care about the USO, even if they haven’t heard it called that.

And how much do we know about this guy really?

The government is still deciding what the impact of the takeover will be on infrastructure and national security.

How the world has changed since the deal hardly makes those things seem less important.

Křetínský might have some persuading to do that he is really the right man.

If he does succeed in getting the USO watered down, it looks like he will have landed the nation’s Royal Mail, around since 1635, on the cheap.

Is everyone ok with that?

Please send candidates for press release of the day to: Simon.english@roxhillmedia.com