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Delays: Czech tycoon Daniel Kretinsky’s EP Group, struck a deal to buy Royal Mail owner International Distribution Services last year
The £3.6billion takeover of the owner of Royal Mail by the ‘Czech Sphinx’ is set to be delayed due to a political crisis in Romania.
Daniel Kretinsky’s EP Group, which struck a deal to buy Royal Mail owner International Distribution Services (IDS) last year, said the only regulatory bar to be cleared relates to its foreign direct investment in Romania.
While there are no major issues expected and talks to gain authorities’ approval are ‘progressing well’, it predicts clearance will only come in time to see the deal complete in the second quarter of 2025.
EP Group had hoped to complete the takeover this month.
Kretinsky – dubbed the ‘Czech Sphinx’ – needs to clear the regulatory hurdle in Romania because part of his business operates there.
Romania is in turmoil after a presidential election was cancelled amid claims of Russian interference.
Kretinsky’s deal was cleared in the UK last year, and would mean the 509-year-old service passes into foreign ownership.
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