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International Business Times
International Business Times
Business
Alexandra BACON

UK Approves Royal Mail Takeover By Czech Billionaire

The UK government will retain a 'golden share' in Royal Mail, to prevent its headquarters moving overseas or changes to its tax residency (Credit: AFP)

Britain's centuries-old Royal Mail is set to pass into foreign ownership after the UK government Monday approved the takeover of its parent company by Czech billionaire Daniel Kretinsky's EP Group.

The takeover of International Distribution Services (IDS) is worth GBP3.6 billion ($4.5 billion).

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