UK business minister meeting Royal Mail owner to discuss takeover bid

Britain's business minister Kemi Badenoch will meet the chief executive of Royal Mail's parent company International Distributions Services on Thursday to discuss a takeover offer, a spokesman for Prime Minister Rishi Sunak said. International Distributions Services said on Wednesday it would recommend a 3.5 billion pound offer proposed by Daniel Kretinsky if the Czech billionaire tables a formal offer.

Badenoch "is meeting the chief executive officer of Royal Mail's parent company to discuss this and other matters", Sunak's spokesman told reporters.