The Czech billionaire vying to buy Royal Mail was advised by former Labor Party member Chuka Umunna

Chuka Umunna served in Ed Miliband's shadow cabinet and is now a senior banker at JP Morgan. Photo: Heathcliff O'Malley < p>Former shadow business minister Chuka Umunna is lobbying the Labor Party on behalf of a Czech billionaire to try to get him to take over Royal Mail.

Mr Umunna, who served in Ed Miliband's shadow cabinet and is now a senior banker at JP Morgan and is advising Daniel Kretinsky on his acquisition of the 500-year-old postal service.

It is believed that the former politician who left Labor Party in 2019, played a role as a mediator between the party and Mr Kretinsky.

His involvement sparked a furious response from the union representing postal workers, which took aim at “corporate meanness”.A spokesman for the Communications Workers' Union (CWU) said: “It is bad that a failed politician-turned-investment banker like Chuka Umunna can influence decisions about Britain's vital institutions. for the country as a whole.

“The issue of Britain's crumbling infrastructure will be a hot-button issue at this year's general election, and no company has been as mismanaged as Royal Mail in recent years.”

“Labour must be steadfast in rejecting such corporate meanness and support. a sustainable Royal Mail model that works for communities and the employees who serve them.”

JP Morgan and the Labor Party declined to comment. Mr Umunna has been contacted for comment.

Earlier this month it emerged that Royal Mail had rejected a £3.1 billion takeover bid from Mr Kretinsky, nicknamed the “Czech Sphinx”, causing fears among some politicians that a critical British asset could fall into the hands of a foreign buyer.

Mr Kretinsky's EP group is expected to make a new offer for Royal Mail before the May 15 deadline. Photo: David W Cerny/Reuters

The project also faces opposition from the CWU, which is instead calling for a “new ownership and management model” for Royal Mail.

Mr Kretinsky's EP group, which is expected to make a new offer before the May 15 deadline set under the city's takeover rules, has held meetings with union bosses in an attempt to ease workers' concerns.

One potential option . An option being considered is a staff compensation scheme, although sources caution that discussions are at an early stage and no clear plan has yet been developed.

The Labor Party, which backed the compensation proposals, is considered open to a takeover of Royal Mail because she is pushing for more investment in the Postal Service's creaking network.

The approach risks fueling tensions with the CWU, which has called for Royal Mail to be returned to ownership. However, the union admitted that “the current political climate makes this very difficult to achieve.”

Labour officials held talks with union bosses on Friday to discuss a potential takeover.

Mr Umunna , who was a founding member of the short-lived Change UK party after leaving the Labor Party, is now managing director and head of ESG for Europe, the Middle East and Africa at JP Morgan.

He is part of the wider deals team at the US investment bank, headed by Duane Lysat, which advises EP Group.

Mr Kretinsky's company also works with bankers from BNP Paribas and Citigroup. Royal Mail hired Goldman Sachs' Mark Sorrell, son of advertising magnate Sir Martin Sorrell, to work on its defense alongside bankers Barclays and Bank of America.