UK APPROVES $6.7 BLN BID FOR ROYAL MAIL PARENT – The British government has approved Czech billionaire Daniel Kretinsky’s takeover
The British government has approved Czech billionaire Daniel Kretinsky’s 5.3-billion-pound ($6.69 billion) takeover of Royal Mail owner International Distribution Services IDSI.L,.
The approval is set to be announced officially later today, the report said, citing people familiar with the matter.
International Distribution Services (IDS) and the Competition and Markets Authority, Britain’s competition regulator, did not immediately respond to a Reuters request for comment.
Kretinsky and IDS had reached an agreement in May on the deal, which was expected to undergo intense government scrutiny, especially during an election year.
