Owner of UK’s Royal Mail approves sale to Czech billionaire Křetínský

The owner of Britain’s Royal Mail has agreed to a GBP 3.57 billion takeover by the Czech billionaire Daniel Křetínský, it said on Wednesday. The Royal Mail is one of the oldest postal services in the world.

The deal still has to be approved by shareholders of parent company International Distribution Services in September and could still be blocked by the UK government.

Mr. Křetínský is the owner of energy company EPH and Czech News Center, publisher of the tabloid Blesk. He also owns Sparta Prague football club and is major shareholder of English club West Ham United.