Vesa Equity given the OK to increase stake

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10:13 This is money website
Government clears Czech billionaire's plan to increase his 22% stake in Royal Mail after national security probe
A Czech tycoon's plans to increase his stake in Royal Mail have been cleared by the Government, the postal service company said today.

Billionaire Daniel Kretinsky told authorities in August that his vehicle Vesa Equity Investment, which already owns 22 per cent of Royal Mail, was planning to raise its stake above 25 per cent.

Kwasi Kwarteng, who was Business Secretary at the time, said the tycoon's move to increase his holding in Royal Mail would constitute a 'trigger event' under the National Security and Investment (NSI) Act and would launch a probe.