Historic Royal Mail Acquired: Britain's Postal Legacy Secured by Czech Billionaire

Czech billionaire Daniel Kretinsky's EP Group has been cleared to acquire Royal Mail in a £3.57 billion deal, ensuring the historic postal service's future. Commitments from EP Group include maintaining Royal Mail's brand, headquarters in Britain, and its 'one-price' postal service, safeguarding thousands of jobs and service continuity.

On Monday, Britain's government gave the green light to Czech billionaire Daniel Kretinsky's EP Group for its £3.57 billion acquisition of Royal Mail. This decision came after commitments were secured to protect the legacy of one of the world's oldest postal services.

The EP Group had previously agreed to purchase International Distribution Services, Royal Mail's parent company, but the UK's apprehensions about the deal's national significance necessitated a review. Business Secretary Jonathan Reynolds confirmed EP Group's pledge to maintain Royal Mail's postal network and retain its UK headquarters and tax contributions.

In a positive gesture, EP Group also reached agreements with Royal Mail's unions and vowed to preserve its iconic brand and Crown cypher. This acquisition positions EP as a committed long-term investor aimed at modernizing Royal Mail while safeguarding jobs and services. The completion of this deal awaits final shareholder and regulatory approval.

(With inputs from agencies.)