Royal Mail is heading for foreign ownership for the first time in its 508-year history after its parent company accepted a £3.5 billion takeover bid, but questions remain over its status as the UK’s universal postal service provider beyond 2029.
International Distributions Services, which owns Royal Mail as well as a Dutch deliveries business, today revealed that it had accepted a 370p-per-share bid from Czech energy and media tycoon, and West Ham part-owner, Daniel Křetínský, via his EP Group business. The acquisition will take Royal Mail’s parent company off the London stock market 11 years after it was privatised.
