The Cabinet Office is looking into Daniel Kretinsky’s attempt to obtain total control of the company through the National Security and Investment (NSI) Act, according to the news agency.
It grants the government the authority to evaluate any threats to the economy and national security.
If the review raises serious problems, government officials may decide to prohibit the purchase or require particular guarantees from the suitor.
Because of the tycoon’s involvement in gas pipelines in Russia, the news said that the investigation would also look into any ties to that nation.
In May, IDS consented to a buyout by Mr. Kretinsky’s EP Group. Considering the significance of Royal Mail in the UK, it is inherently contentious.
IDS has previously stated that the new owner would keep its current employment rights, headquarters, branding, and UK tax domicile if the purchase goes through.
In addition, the business stated that EP Group’s ownership would include a dedication to the current Royal Mail universal service duty of one-price-goes-anywhere first-class post six days a week.
