Royal Mail’s owner has agreed to a £3.6billion  takeover bid by Czech tycoon Daniel Křetínský, another British organisation under foreign ownership. Parent firm international Distribution Services (IDS) said its board of directors had approved  the billionaire’s offer which was received earlier this month.  The deal values the business at £5.3billion including debt and Daniel Křetínský, EP Group must guarantee a series of contractual commitments and intentions to protect Royal Mail’s public service duties such as its one-price-goes-anywhere  first-class post six days week. The 48-year-old Czech Sphinx already owns  27 per cent share in IDS and also owns parts of West Ham United FC and Sainsbury’s. … Continue reading Czech billionaire buys Royal Mail for £3.6billion