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Finance

Daniel Kretinsky's EP Group agrees to terms with UK govt over Royal Mail deal

Published by Global Banking and Finance Review

Posted on December 16, 2024

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(Reuters) - Czech billionaire Daniel Kretinsky's EP Group said on Monday it had agreed to certain terms with the UK government, which are conditional upon the completion of its takeover of Royal Mail owner International Distribution Services (IDS).

IDS had agreed to a 3.57 billion pound ($4.51 billion) takeover by Kretinsky's EP Group in May and the deal has also been under review by Britain under the National Security and Investment Act since August.

Early on Monday, the BBC reported that the UK government had approved the sale.

($1 = 0.7911 pounds)

(This story has been refiled to capitalise Royal Mail in the headline)

(Reporting by Chandini Monnappa in Bengaluru; Editing by Varun H K)

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