Royal Mail takeover by Czech billionaire approved by shareholders
The sale of Royal Mail's parent company to a Czech billionaire has been cleared by shareholders.The approval of the £3.6bn deal, first proposed a year ago, will see the 500-year institution taken over by Daniel Kretinsky's EP Group.Just over 80% of the shareholders of International Distribution Services (IDS), Royal Mail's owner, voted in favour of the takeover on Wednesday afternoon.Mr Kretinksy said "the pathway to success for IDS lies in taking a truly long-term view of the future".
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