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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 …

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Companies roundup: DS Smith takeover & Entain

DS Smith (SMDS), Entain (ENT), car registrations, Future (FUTR), Ascential (ASCL), Motorpoint (MOTR) and Gooch & Housego (GHH) Packaging giants DS Smith (SMDS) and Mondi (MNDI) are still in merger talks, having reached an agreement in principle last month. The Panel on Takeovers and Mergers has extended the offer deadline from 5pm on 4 April …

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Erosion of postal delivery service or much needed reform?

The mail arrives at Belmont, Unst. photo: Royal Mail ISLES MP Alistair Carmichael has called on postal regulator Ofcom to reject proposals from Royal Mail to cut back on delivery services. On Wednesday the company published proposals to cut services including changing the delivery of all non first class letters …

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Fraudster’s house goes under the hammer

The luxury home of a disgraced former mailing boss is going up for auction with a guide price of nearly £3m. Narinder Sandhu was jailed for four years in February. He was the architect of a huge £70m-plus fraud against Royal Mail when he ran Aylesbury-based Packpost International. The fraud …

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