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Evening Standard
Evening Standard
National
Holly Williams

What has been agreed under the Royal Mail takeover and what are the next steps?

Royal Mail Daniel Kretinsky Jonathan Reynolds Russ Mould International Distribution Services United Kingdom
Royal Mail was spun out from the Post Office and privatised just over a decade ago (Gareth Fuller/PA) - (PA Archive)

Royal Mail is set to fall into foreign ownership for the first time in its more than 500-year history after the Government approved the takeover by Czech billionaire Daniel Kretinsky.

Business Secretary Jonathan Reynolds confirmed the Government had agreed a series of legally-binding commitments with Mr Kretinsky’s EP Group over the £3.6 billion takeover of Royal Mail owner International Distribution Services (IDS).

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