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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

Royal Mail owner agrees to £3.57bn takeover by Czech billionaire

Royal Mail Daniel Křetínský EP IDs Kemi Badenoch
Royal Mail lorries
The Royal Mail deal will still need to be approved by IDS shareholders at the annual general meeting on 25 September. Photograph: Jill Mead/The Guardian

The takeover of Royal Mail by the Czech billionaire Daniel Křetínský has edged closer after its owner agreed terms and conditions on a £3.57bn offer.

In an update to the market on Wednesday, the postal service’s parent company, International Distribution Services (IDS), said it had accepted a cash offer from Křetínský’s EP Group.

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