Kretinsky has committed to maintaining the universal service obligation, ensuring equal pricing for all letters in the UK during his ownership.

The political scrutiny surrounding Kretinsky's offer reflects ongoing concerns about the privatization of essential services since 2013.

The British government has approved Czech billionaire Daniel Kretinsky's £5.3 billion ($6.69 billion) takeover of International Distribution Services, which owns Royal Mail.

Kretinsky has pledged to avoid compulsory redundancies until 2025, although unions are pushing for further job security assurances.

The acquisition has sparked worries regarding Kretinsky's business ties, particularly his investments in Russian energy.

The takeover is expected to be finalized early in 2025, pending shareholder approval, with no alternative bids currently on the table.

This agreement ensures that Royal Mail's headquarters will remain in the UK, safeguarding jobs and tax revenues.

As part of the deal, the UK government will retain a 'golden share' in the postal service, allowing it special rights regarding the company's governance.

The deal includes commitments to recognize and negotiate with relevant workers' unions, including the Communication Workers Union.

Royal Mail has faced significant challenges since its privatization in 2013, including a sharp decline in demand and financial losses.

Despite reporting a loss of £742 million in the previous financial year, the overall group is moving towards profitability.

Concerns have been raised about the future of Royal Mail employees and the viability of this crucial public service under private ownership.