Royal Mail announces possible French fines of $29M

Royal Mail announced it had set aside about $29 million for possible fines issued by French competition authorities, say reports.

The UK postal company said it entered into a settlement with French competition regulators following an investigation into the company’s French unit, Global Logistics Systems.

While Royal Mail did not elaborate on the nature of the investigation, its rival FedEx said in July that its French unit had also been under investigation for anticompetitive conduct “that is alleged to have occurred primarily in the framework of trade association meetings.”

No fines against Royal Mail have been confirmed.

Full content: The Telegraph

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