LONDON — The UK government has approved Czech billionaire Daniel Kretinsky’s EP Group’s £3.57 billion acquisition of Royal Mail’s parent company, International Distribution Services (IDS).
The deal, initially agreed upon in May, underwent scrutiny under the National Security and Investment Act in August. Business Secretary Jonathan Reynolds confirmed that Kretinsky had pledged to safeguard Royal Mail’s postal network, keep its headquarters in the UK, and maintain UK tax contributions.
Reynolds said the agreement secures the future of Royal Mail, ensuring financial stability and protecting thousands of jobs and customers.
