UK government approves takeover of Royal Mail by Czech billionaire

LONDON, U.K. The U.K. government has approved the US$4.6-billion sale of Royal Mail's parent company, International Distribution Services (IDS), to Czech billionaire Daniel Kretinsky's EP Group, marking the first time in its 500-year history that the iconic postal service will come under foreign ownership.

The deal was first agreed upon in May and received the green light on December 16 after a review under nati