Royal Mail Group (RMG.L) today announced news that it has done a deal with the French Competition Authority to settle a case which relates to alleged breaches of anti-trust laws by its French Subsidiary group GLS France before 2010.
An investigation will continue into the allegations however any settlement and fine will now be reduced due to Royal Mail Group agreement and compliance at the current stage.
Any fine is not expected to be announced before the second half of the 2015/2016 year for the company. Royal mail has already set aside £18M in this half years financial statements which it estimates £12M will be to pay for any fine and £6M for legal costs associated with the claim.
Royal Mail Group is trading slightly higher this morning at 400p (up 2.40p 0.6%)
Royal Mail Group (RMG.L) today announced news that it has done a deal with the French Competition Authority to settle a case which relates to alleged breaches of anti-trust laws by its French Subsidiary group GLS France before 2010.
An investigation will continue into the allegations however any settlement and fine will now be reduced due to Royal Mail Group agreement and compliance at the current stage.
Any fine is not expected to be announced before the second half of the 2015/2016 year for the company. Royal mail has already set aside £18M in this half years financial statements which it estimates £12M will be to pay for any fine and £6M for legal costs associated with the claim.
Royal Mail Group is trading slightly higher this morning at 400p (up 2.40p 0.6%)
Related Posts: