Royal Mail owner accepts £3.57bn takeover offer from Czech billionaire

Royal Mail owner International Distribution Services said it has agreed to a £3.57bn takeover offer from Czech billionaire Daniel Kretinsky’s EP Group. Picture: John Giles/PA Wire

Royal Mail owner International Distribution Services said it has agreed to a £3.57bn (€4.2bn) takeover offer from Czech billionaire Daniel Kretinsky’s EP Group.

The offer would see EP Group buy IDS for 370p per share, while offering a series of “contractual commitments and intentions” to protect public service aspects of the Royal Mail.