• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

UK approves Daniel Kretinsky’s $6.7 billion bid for Royal Mail parent, FT reports

by December 16, 2024
written by December 16, 2024

(Reuters) -The British government has approved Czech billionaire Daniel Kretinsky’s 5.3-billion-pound ($6.69 billion) takeover of Royal Mail (LON:IDSI) owner International Distribution Services, the Financial Times reported on Monday.

The approval is set to be announced as early as Monday morning, the report said, citing people familiar with the matter.

International Distribution Services (IDS) and the Competition and Markets Authority, Britain’s competition regulator, did not immediately respond to a Reuters request for comment.

Kretinsky and IDS had reached an agreement in May on the deal, which was expected to undergo intense government scrutiny, especially during an election year.

Royal Mail, whose iconic red post boxes with the Royal Crest dot the country, has struggled with labour strikes, competition and loss of market share.

Last week, Britain’s media regulator imposed a 10.5-million-pound fine on Royal Mail for failing to meet delivery targets over the past year.

As part of the final deal, the UK government will retain a so-called “golden share” in the postal service, giving it special rights over the governance of the company, the FT report said.

($1 = 0.7917 pounds)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
US stock futures muted ahead of Fed meeting
next post
Tesla: Wedbush hikes price target on autonomous and AI growth under Trump 2.0

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Prologis beats core FFO estimates on improving warehouse demand
    • EU to assess if Apple’s iPad OS complies with bloc’s tech rules

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy