Royal Mail statement on Ofcom announcement

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Royal Mail notes today’s announcement by Ofcom of a fundamental review of the regulation of the Company, to ensure it remains appropriate and sufficient to secure the universal postal service.

Royal Mail will continue to participate fully in Ofcom’s review. As the regulator notes, there is significant competition in the UK market in the mails and parcels segments. At the same time the letters segment is in structural decline of 4-6% a year. There is therefore a need for regulatory clarity and certainty for all market participants. It is essential that Royal Mail is able to sustain the UK’s valued, high quality, high fixed cost universal service for the benefit of all consumers and businesses.