Czech billionaire Daniel Křetínský's EP Group has made a 3.6 billion pound takeover offer for Royal Mail.

The total value of the deal, including debt, is 5.2 billion pounds.

The deal includes commitments to protect the postal service's public service aspects and does not involve major job losses.

Křetínský, who already owns a stake in Royal Mail's parent company, aims to support the company's modernization and transformation.

The Communication Workers Union has expressed concerns about the state of postal services under current management and calls for a reset in employee relations.

The business secretary is scrutinizing the acquisition under the National Security and Investment Act.

Stay updated on this developing story at the Express website.