A PYMNTS Company

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

By  |  December 15, 2015

Royal Mail has been fined €55.1m by the French competition authority after an investigation into antitrust law breaches across the Channel. The fine was almost exactly as expected and is covered by provisions already made in the company’s financial statement for last year, when £46m was set aside, comprising £40m for the anticipated fine and £6m for costs.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Royal Mail said it accepted the Autorité de la Concurrence’s ruling that GLS France, an arm of its parcel division, was in breach of antitrust laws between 2004 and 2010.

    “Royal Mail recognises the absolute need to comply with European and national competition law and the necessity to prevent infringements. It has implemented an enhanced compliance programme in GLS France in order to strengthen the culture of competition law compliance.” The company originally set aside £18m but increased its provision after discussions with the French authorities.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.