UK approves Royal Mail takeover by Czech billionaire
Daniel Kretinsky’s EP Group is taking over the parent company of the centuries-old Royal Mail in a deal worth US$4.5 billion.
Britain’s centuries-old Royal Mail is set to pass into foreign ownership after the UK government approved the takeover of its parent company by Czech billionaire Daniel Kretinsky’s EP Group on Monday.AdvertisementThe takeover of International Distribution Services (IDS) by EP Group is worth £3.6 billion (US$4.5 billion).The “deal protects workers and key services whilst seeing Royal Mail continue to be headquartered in Britain, securing jobs and tax receipts in the UK”, the government...
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