International Distribution Services Faces No Further U.K. National Security Action

By Joe Hoppe

International Distribution Services PLC said Monday that no further action will be taken against it under the U.K. National Security and Investment Act in relation to Vesa Equity Investment SARL's shareholding.

On Aug. 25, the postal service and courier company--formerly Royal Mail PLC--said the U.K.'s secretary of state for business, energy and industrial strategy reasonably suspected that a process was in progress that could result in Vesa increasing its shareholding above a 25% threshold, and he exercised his call-in power.

International Distribution said Vesa's most recent notification, disclosed on July 19, indicated that it held just over 22% of the total voting rights in the company at that time.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

October 31, 2022 04:02 ET (08:02 GMT)

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