15th Dec 2015 09:41
LONDON (Alliance News) - Postal service operator Royal Mail PLC on Tuesday said it has been fined EUR55.1 million by French authorities after it was found its GLS France business had breached competition rules between 2004 and 2010.
Royal Mail said it has accepted the determination made by the authorities and said the fine it will pay has been reduced due to it agreeing not to contest the allegations and provide compliance commitments.
Royal Mail said it has implemented a new competition compliance programme at GLS France.
It added the fine is covered by the provision it made in its financial year to end March 2015.
Shares in Royal Mail were up 1.4% to 444.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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