12th Nov 2019 17:51
(Alliance News) - Royal Mail PLC late on Tuesday said it was "disappointed" by the Competition Appeal Tribunal's decision to uphold an original ruling set out by the UK Office of Communications.
In August 2018, UK regulator Ofcom issued the postal operator with a GBP50 million fine in relation to discriminatory pricing for Royal Mail's bulk mail delivery services in the UK, following a complaint made by smaller rival Whistl.
In a hearing on Tuesday, the Competition Appeal Tribunal upheld the substantial fine imposed by Ofcom on Royal Mail.
In response, Royal Mail said it was "disappointed" by the CAT's judgment to uphold Ofcom's decision.
"We are considering all legal options, including whether to seek permission to appeal and to request that payment of the penalty, which would otherwise become payable, be stayed pending any appeal. We will provide an update once we have completed our legal review," Royal Mail added.
Royal Mail shares closed up 1.6% on Tuesday at 227.70 pence.
By Arvind Bhunjun; [email protected]
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