Royal Mail Announces Spanish Competition Authority Investigation

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Royal Mail plc (RMG.L) noted that the Spanish competition authority, Comisión Nacional de los Mercados y la Competencia (CNMC), has opened formal proceedings against GLS Spain, and other companies, for an alleged breach of the Spanish Competition Act.

Royal Mail said it is fully cooperating with the CNMC in order to clarify the facts under investigation. On the basis of the alleged conduct and GLS Spain's annual turnover, Royal Mail does not expect any fine to be material.

Royal Mail said, 'We continue to keep our processes under review to ensure we maintain appropriate oversight. In particular, we have completed a compliance review of the GLS Group and we are not aware of any other matter which could be the subject of any other investigation by a relevant competition law authority.'