Czech investor Daniel Kretinsky's EP Group increased its takeover bid for Royal Mail's parent, IDS, to £3.5bn with commitments to maintain UK first-class letter deliveries, protect workers'

Czech billionaire Daniel Kretinsky's EP Group has increased its takeover bid for Royal Mail's parent company, International Distribution Services (IDS), to £3.5bn. Kretinsky's proposal now includes a commitment to maintaining the UK's six-day-a-week first-class letter deliveries, protecting workers' rights, and recognising unions at Royal Mail and sister company GLS. The deal is subject to further discussions and negotiations.