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The Independent UK
The Independent UK
National
Via AP news wire

UK government approves $4.6-billion takeover of Royal Mail by a Czech billionaire

Royal Mail United Kingdom Daniel Kretinsky EP Group Britain IDs
Britain Royal Mail - (ASSOCIATED PRESS)

Britain's government gave the go-ahead Monday for the sale of Royal Mail's parent company to a Czech billionaire, paving the way for the postal service to pass into foreign ownership for the first time in its 500-year history.

Authorities confirmed Monday that the 3.6 billion-pound ($4.6 billion) takeover of Royal Mail's owner, International Distribution Services, by billionaire Daniel Kretinsky's EP Group, can go ahead.

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