Britain’s Royal Mail has agreed to a 3.6 billion pound ($4.6 billion) takeover bid from Czech investor Daniel Kretínský. The deal involves Kretínský’s EP Group acquiring International Distribution Services, the owner of Royal Mail, for 370 pence ($4.72) per share, valuing IDS at 5.2 billion pounds ($6.6 billion) including debt.
The acquisition includes commitments from EP Group to safeguard the public service aspects of the historic postal service, which has been in operation for over 500 years. Royal Mail, previously state-owned and privatized in 2013, has faced financial challenges in recent years.
