UK government clears Czech billionaire’s £3.57b deal to acquire Royal Mail

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UK government clears Czech billionaire’s £3.57b deal to acquire Royal Mail - Malay Mail

Quick Summary:

LONDON, Dec 16 — The British government on Monday cleared Czech billionaire Daniel Kretinsky’s EP Group to buy Royal Mai...

He said the deal provided a secure future to thousands of workers and customers and would ensure a financially stable Royal Mail.“Today’s announcement marks an important milestone in the approvals process,” said Keith Williams, non-executive chair of IDS.

Business Secretary Jonathan Reynolds said Kretinsky had committed to protect Royal Mail’s postal network, and he had secured a “golden share” that would ensure its headquarters remained in Britain and it would continue to pay UK taxes.