Royal Mail’s sale to Czech billionaire Daniel Kretinsky has been cleared by the Government in a deal worth £5.3 billion.

The move will see the 500-year-old postal service to pass into foreign ownership for the first time.

The Government will need to approve any key changes to ownership, headquarters location or tax residency as part of a ‘golden share’.

General Secretary of the Wimbledon based Communication Worker’s Union Dave Ward welcomes the announcement.