Investors set to approve takeover of Royal Mail by Daniel Kretinsky
Royal Mail is set to fall into foreign hands this week for the first time in its history.
Shareholders have until Wednesday to accept a £3.6bn takeover of the postal service's owner by Daniel Kretinsky.
International Distribution Services (IDS) shocked the City when it agreed to be bought by the Czech Sphinx last summer.
The deal will see Royal Mail fall into foreign ownership for the first time since it was created in 1516 and has sparked a backlash from politicians and businesses.
But it looks likely to be waved through by investors after clearing regulatory hurdles, including a probe under national security rules.
Last Friday, investors owning more than 41 per cent of IDS shares had voted for or signalled their intention to back the deal, a spokesman said. That includes the 27.6 per cent stake Kretinsky owns.
The threshold for the deal to be declared unconditional is 75 per cent. But there are mechanisms for the deal to be approved even if investors owning just 50 per cent of shares have agreed to it.
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