Snapshot: Glowing GLS still subsidising Royal Mail?
When big losses are good news, but…
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Royal Mail expects to be fined £12m by French anti-competition authorities investigating the parcel courier business in France, with half of that again set aside for legal fees (really? blimey, lawyers get a lot!). Authorities have been investigating its French subsidiary, GLS, as well as the rest of the sector, alleging anti-competitive practices at trade association meetings. But it’s nothing compared with TNT, which has set aside £39m.
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