Royal Mail settles in French competition probe
UK postal operator Royal Mail has done a deal to end a competition probe in France.
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17:05 02/05/24
The former state-owned mail group, which was privatised last year, said it had entered into a settlement agreement with the French competition authority, Autorité de la Concurrence, in respect of alleged breaches of anti-trust laws by one of its subsidiaries, GLS France, before the end of 2010.
Royal Mail said regulators would continue their investigation, but agreeing a settlement and compliance commitments now would allow it to benefit from a reduction in any fine imposed.
The level of any fine is not expected to be set until the second half of the 2015-16 financial year.
However, Royal Mail has set aside £18m in its financial statements for the six months to 28 September, comprising £12m in respect of the current estimate of any fine and £6m in respect of estimated legal costs associated with the investigation and the costs of the compliance commitments.