(Reuters) – The British government has approved the sale of Royal Mail (LON:) to Czech billionaire Daniel Kretinsky, the Financial Times reported on Monday.

The approval for Kretinsky’s 5.3 billion pounds ($6.69 billion) takeover of Royal Mail owner International Distribution Services is set to be announced on Monday morning, the report said, citing people familiar with the matter.

($1 = 0.7918 pounds)