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UK: Royal Mail agrees to pay €55.1 mln fine in antitrust case

 |  December 16, 2015

Britain’s Royal Mail Plc said it had agreed with the French competition authority to pay 40.2 million pounds to settle a breach of antitrust laws by its unit. The U.K.’s former state-owned letter and parcel delivery company said the fine would have been higher if it had contested the allegations.

The fine was nearly exactly as expected and is covered by provisions already made in the company’s financial statement for past year, when £46m was set aside, comprising £40m for the anticipated fine and £6m for costs. “Royal Mail recognises the absolute need to comply with European and national competition law and the necessity to prevent infringements”.

France’s Autorite de la Concurrence said in its ruling on the wider case that it had uncovered secret meetings from 2004 to 2010. The authority stated that particularly damaged small businesses rise.

Full content: Market Watch

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