The sale of Royal Mail cleared another hurdle last night after European and American regulators approved a £3.6billion takeover.
International Distribution Services (IDS), which owns the postal service, said the deal has been cleared by the European Commission and the US Committee on Foreign Investment.
UK regulators have already given the controversial takeover of the 500-year-old postal service the green light on national security grounds.
And ministers and the unions have also backed the bid by Czech billionaire Daniel Kretinsky after securing beefed up commitments, including giving the Government a so-called golden share in the company.
It sent shockwaves through the City and Westminster when the IDS board accepted the energy tycoon’s offer in May last year.
The deal will see Royal Mail fall into overseas ownership for the first time since the postal service was established by Henry VIII in 1516.
Approved: Royal Mail-owner IDS said its £3.6bn sale to Czech Tycoon Daniel Kretinsky has been cleared by the European Commission and the US Committee on Foreign Investment
The offer still needs to clear foreign direct investment regulations in Romania, and EU subsidy rules.
Meanwhile, the postal service is also seeking a major shake-up of its services, which would allow it to ditch Saturday deliveries for second class letters.
Royal Mail must deliver letters six days a week to all 32m addresses in the UK for the price of a stamp.
But the firm has argued its obligations have become unsustainable as the number of letters being sent has tumbled.
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