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International Business Times
International Business Times
Business
AFP News

Royal Mail Owner Accepts Czech Billionaire's Takeover

Former state monopoly Royal Mail was privatised in 2013. (Credit: AFP)

The owner of Britain's struggling Royal Mail said Wednesday it had accepted a takeover proposal from Czech billionaire Daniel Kretinsky worth GBP3.6 billion ($4.6 billion).

It comes after Kretinsky's conglomerate EP Group formalized an improved offer for International Distribution Services.

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