Statement on French Competition Investigation

RNS Number : 8564T

Royal Mail PLC

09 October 2014

 



Royal Mail plc

9 October 2014

Update on French competition authority investigation into alleged antitrust law breaches in France 

Further to its announcement of 16 July 2014, Royal Mail plc announces that it has today entered into a settlement agreement with the French competition authority (Autorité de la Concurrence) in respect of the alleged breaches of antitrust laws by one of its subsidiaries, GLS France, during the period before the end of 2010.

Royal Mail confirms that, whilst a settlement has been agreed in principle, the French regulator is continuing its investigation.  By agreeing to settle and provide compliance commitments now, Royal Mail will benefit from a reduction to any fine.  The amount of any fine is not expected to be determined until the second half of the 2015-16 financial year.  However, Royal Mail has made a financial provision of £18 million in its financial statements for the half year ended 28 September 2014, comprising £12 million in respect of the current estimate of any fine and £6 million in respect of estimated legal costs associated with the investigation and the costs of the compliance commitments.

We expect to announce our results for the half year ended 28 September 2014 on Wednesday, 19 November 2014.

For more information contact:

Media

Mish Tullar
Phone: [phone]
Email: [e-mail]

Candice Macdonald

Phone: [phone]

Email: [e-mail]

Royal Mail press office out of hours: 020 3338 1007

Investor Relations

Catherine Nash

Phone: [phone]

Email: [e-mail]

Company Secretariat

Kulbinder Dosanjh

Phone: [phone]  

Email: [e-mail]

 

END

 

 

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