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The Independent UK
The Independent UK
National
Joe Middleton

Royal Mail owner approves £3.5bn takeover deal with Czech billionaire

Royal Mail IDs Daniel Kretinsky EP Group International Distribution Services
AFP via Getty Images

Royal Mail owner International Distribution Services (IDS) will be taken over after agreeing a £3.57 billion deal with Czech billionaire Daniel Kretinsky.

Mr Kretinsky’s EP Group vehicle, which already owns 27.6 per cent of the business, made a formal offer for the business after initial proposals earlier this month. The deal will see EP pay 370p per share to investors in IDS.

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