UK Government Approves Sale of International Distribution Services

In a recent press release, the UK's Department for Business and Trade announced that the sale of Royal Mail's parent company, International Distribution Services, to Czech billionaire Daniel Kretinsky's EP UK Bidco Limited (Bidco) has been officially approved. The deal, valued at £3.6 billion, was made possible after the government received legally binding commitments from the bidder.

Commitments to Protect Employees and Core Services

The agreement includes guarantees that Royal Mail will continue to be based in Britain, safeguarding jobs and tax revenues. Additionally, it ensures the protection of employees and core services, reinforcing the company's commitment to serve the communities and businesses that rely on it.

Business Secretary's Statement

Business Secretary Jonathan Reynolds expressed his gratitude to EP Group and Daniel Kretinsky for their constructive approach and commitment to protecting Royal Mail. He looks forward to working with them to ensure the company continues to deliver for its stakeholders.