The £3.6bn takeover by Daniel Kretinsky’s EP Group from current owner International Distribution Services (IDS) will be announced on Monday, the BBC reported.
The Government will reportedly keep a so-called “golden share” that will mean it needs to approve any key changes to Royal Mail’s ownership, headquarter location and tax residency.
According to the FT, EP Group had been locked in late negotiations with officials and the postal workers’ union as they sought further assurances about the deal.
When the takeover offer was first accepted by Royal Mail’s owner in May, IDS said it would see the company continue its universal service obligation to one-price-goes-anywhere first class post six days a week, and keep its branding and UK headquarters.
The reported approval comes just days after regulator Ofcom fined Royal Mail £10.5m for missing its post delivery targets in the 2023-2024 financial year.
The fine was the second in two years, after the watchdog fined the company £5.6m in November 2023.
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