Reported 4 months ago
The owner of Britain’s Royal Mail, International Distribution Services, has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský's EP Group. The deal values IDS at 5.2 billion pounds ($6.6 billion) and includes commitments to protect the public service aspects of the postal service. Despite Royal Mail's privatization in 2013 and financial struggles, no major job losses are planned, and the deal awaits shareholder approval with plans to maintain the company's name, branding, headquarters, and six-day mail delivery obligation.
Source: YAHOO