British government approves Křetínský's takeover of Royal Mail

British authorities have given the green light to the sale of Royal Mail to Czech billionaire Daniel Křetínský's EP Group. The management of International Distribution Services, which currently owns Royal Mail, accepted Křetínský's takeover offer of 3.6 billion pounds (almost 110 billion crowns) in May and recommended that their shareholders approve it. In addition, the transaction had to obtain permission from British authorities under the National Security and Investment Act.