International Distributions Services, which owns Royal Mail as well as a Dutch deliveries business, today revealed that it had recommended a 370p-per-share bid from Czech energy and media tycoon and West Ham part-owner - Daniel Křetínský, via his EP Group business.
The acquisition will take Royal Mail's parent company off the London stock market 11 years after it was privatised.
Křetínský said: "IDS, and Royal Mail in particular, form part of the national infrastructure of the countries they operate in. More than that, Royal Mail is part of the fabric of UK society and has been for hundreds of years.
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