London CNN —
Royal Mail, which dates back to the reign of Henry VIII in the 1500s, is set to be sold to a Czech billionaire in a deal that will keep the institution based in Britain.
Daniel Křetínský’s EP Group has made “legally binding commitments” to the UK government as part of the process to buy the postal service from its British parent company International Distribution Services, according to a government statement published Monday.
These commitments include seeking government approval to move Royal Mail’s headquarters and tax residency abroad, with both remaining in the
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