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Minister says deal worth £3.5bn will provide a secure future for service
Czech billionaire Daniel Kretinsky has been cleared to buy Royal Mail (Rui Vieira/PA)
The British government has cleared Czech billionaire Daniel Kretinsky’s EP Group to buy Royal Mail in a £3.57bn (€4.6bn) deal, after securing commitments that it said would protect one of the world’s oldest postal services.
EP Group agreed to acquire Royal Mail parent International Distribution Services (IDS) in May, but the British government said in August that it would scrutinise the deal due to the national importance of the service. UK business secretary Jonathan Reynolds said EP Group 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.
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