The board of Royal Mail owner International Distribution Services has approved a £3.57 billion takeover bid from Czech billionaire Daniel Kretinsky.
Under the deal, Kretinsky has agreed for Royal Mail to deliver first class mail six days a week for the next five years.
5 things to start your day
1) Labor business letter ridiculed after executives refused to sign | The lack of big names should be a 'major concern' for the party, critics warn
2) Ocado is at risk of being delisted from the FTSE 100 | Pressure to list on the New York stock exchange is growing as the technology company faces relegation from the blue chip index
3) Shell plans job cuts in its offshore wind division | The oil giant continues to switch from green energy
4) The US immigration wave threatens to keep interest rates high for months | Top Fed official 'concerned' about pressure on housing market as battle to curb inflation
5) How Google's Malfunctioning AI Threatens to Ruin the Internet | By changing the way its search engine works, the tech giant risks being its own downfall
What happened at night
On Wall Street, the Nasdaq managed to rise past the symbolic 17,000 mark, rising above it for the first time as AI leader Nvidia hit an all-time high.
The Dow Jones Industrial Average fell 0.55% to 38,852.86, the S&P 500 gained 0.02% to close at 5,306.04, and the Nasdaq Composite gained 0.59% to 17,019.88.
The yield on 10-year U.S. Treasury bonds rose to 4.54% from 4.473% late Friday.
Hong Kong stocks fell early Wednesday on concerns about the likelihood that the Federal Reserve will cut interest rates at all this year.
The Hang Seng Index fell 0.86% to 18,659.41, the Shanghai Composite Index fell 0.05% to 3,108.03, while the Shenzhen Composite Index on China's second bourse fell 0.12% to 1,726.93.
Shares in Tokyo opened flat on Wednesday after stocks on Wall Street finished mixed.
The benchmark Nikkei 225 index rose 0.03% to 38,867.89 in early trading, while the broader Topix index fell 0.05% to 2,767.17.