Royal Mail 'Faces French Competition Fine'

Royal Mail has confirmed its French parcels business is under investigation by competition authorities and admitted it may face a hefty fine.

The company said it had been served a notice by the Autorite de la Concurrence in France that it was facing allegations of "breaches of anti-trust laws" by GLS France - an operation it bought in 2000 after purchasing the group's wider European business.

TNT Express confirmed it was also caught up in the probe, which is understood to cover the parcels business across France.

Royal Mail said: "We are currently considering the notice received from the French regulator.

Royal Mail is yet to receive any news on a potential fine

"Given the early stage of this matter, we cannot yet determine the amount or range of potential loss; however, it is possible that it could be material".

Some industry analysts estimated a maximum penalty of up to £160m - equating to 10% of GLS's turnover - if any wrong-doing was uncovered.

Shares in FTSE 100-listed Royal Mail fell 1% in early trading on Wednesday.

While the GLS Group is profitable, the French operation reported a £21m loss for its last financial year.

TNT Express said it had been co-operating with the investigation since it started in 2010 and could also not rule out a "material" fine.

The French regulator said it could not give the names of the companies involved nor details of the alleged practices being investigated.

Anda sedang membaca artikel tentang

Royal Mail 'Faces French Competition Fine'

Dengan url

http://kerjasendirianda.blogspot.com/2014/07/royal-mail-faces-french-competition-fine.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Royal Mail 'Faces French Competition Fine'

namun jangan lupa untuk meletakkan link

Royal Mail 'Faces French Competition Fine'

sebagai sumbernya