Czech Billionaire Kretinsky Gets UK Approval to Buy Royal Mail

Czech billionaire Daniel Kretinsky plans to fund the takeover of International Distribution Services Plc, owner of the UK’s Royal Mail, with both equity and debt. He speaks to Bloomberg’s Irene Garcia Perez about what is needed to turn around the company and deliver for investors.Source: Bloomberg

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By Julian Harris

December 16, 2024 at 9:05 AM UTC

Updated on

December 16, 2024 at 9:39 AM UTC

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The UK government has approved Daniel Kretinsky’s £3.6 billion ($4.6 billion) takeover of the Royal Mail’s parent company, after the Czech billionaire made a series of commitments.

The tycoon’s EP Group promised Monday to respect the Royal Mail’s obligation to deliver letters and parcels to every part of the UK, and not to change the postal service’s ownership for at least three years.