Finance
Daniel Kretinsky's EP Group agrees to terms with UK govt over Royal Mail deal
Published by Global Banking & Finance Review®
Posted on December 16, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 16, 2024
1 min readLast updated: January 27, 2026
EP Group agrees to terms with UK govt for Royal Mail takeover, pending completion. The deal, valued at 3.57 billion pounds, was reviewed under the National Security Act.
(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)
The main topic is EP Group's agreement with the UK government regarding the takeover of Royal Mail owner International Distribution Services.
The takeover deal is valued at 3.57 billion pounds ($4.51 billion).
Daniel Kretinsky is a Czech billionaire and the owner of EP Group, which is involved in the Royal Mail takeover deal.
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