Royal Mail's parent company, IDS, delays annual financial results due to KPMG's requested extension and takeover bid by Czech billionaire Daniel Kretinsky.

Royal Mail's parent company, International Distribution Services (IDS), has delayed the release of its annual financial results due to KPMG's request for additional time to complete procedures. The delay comes after IDS expressed it was "minded" to accept a takeover bid from Czech billionaire Daniel Kretinsky for around £3.5 billion. Kretinsky currently holds a 27.5% stake in the company.