Royal Mail owner agrees to takeover by Czech billionaire Daniel Kretinsky

A centuries-old British institution is set to be sold to a foreign firm. Royal Mail's parent company has accepted a £3.6 billion takeover offer by Czech billionaire Daniel Kretinsky's EP group. Privatised about a decade ago, the postal service that dates back to Tudor times has struggled in the era of emails. Meanwhile, the world's biggest mining firm BHP has walked away from a $49 billion plan to take over British rival Anglo American, after the latter rejected a request to extend talks.