BHP walks away from £39bn pursuit of Anglo American; Royal Mail agrees to £3.57bn takeover by Czech billionaire Daniel Křetínský – as it happened

Royal Mail's parent company IDS agrees takeover offer but BHP's pursuit of Anglo fails

• Royal Mail owner agrees to 3.57bn takeover by Czech billionaire
• Royal Mail's foreign sale would put a 500-year-old national service in jeopardy

Postal unions are pushing for a new ownership model for Royal Mail, in which both staff and customers would have a direct say" in how the company is run.

Dave Ward, general secretary of the Communication Workers Union, is also calling for a golden share' to be created (which would give special powers to block certain decisions).

We do welcome some of the commitments that have been made but the reality is postal workers across the UK have lost all faith in the senior management of Royal Mail and the service has been deliberately run down.

We will meet with EP Group next week and call for a complete reset in employee and industrial relations, the restoration of postal services and further commitments on the future of the company.

BHP believes that its proposal will contribute to South Africa and allow the benefits of South African mining to be shared with more South African stakeholders.