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UK: Royal Mail irked by TNT competition ahead of IPO

By  |  October 2, 2013

As the UK’s Royal Mail prepares to go public this month, the company has asked regulators to review TNT Post’s plans to begin deliveries in Greater Manchester, say reports.

The postal service firm’s sell-off and entrance onto the stock exchange will be one of the largest in the government’s history.

But in a flotation prospectus, offered last Friday, Royal Mail argued that TNT’s plans could undermine the company’s profitability and ability to carry out its duties; Royal Mail called upon Ofcom to review TNT’s plans, which threaten Royal Mail’s dominance in Greater Manchester.

In a statement, consumer director Stephen Agar said that “Royal Mail welcomes competition, but this must take place on a level playing field.”

Full Content: Invezz

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