British government gives green light for takeover of Royal Mail

The British government has given the green light for the sale of Royal Mail to Czech billionaire Daniel Kretinsky, according to the Financial Times. Kretinsky's takeover bid of £5.3 billion for Royal Mail's owner, International Distribution Services, is on the verge of being officially announced. This decision is expected to be announced on Monday morning, according to insiders. The transaction demonstrates the increasing attractiveness of British companies to international investors and may signal further changes in the British postal sector.