Royal Mail has warned it faces a potentially hefty fine from French competition authorities, which are investigating possible anti-trust violations at the group’s parcel-delivery subsidiary.
Shares in the postal service, which is 30% state-owned following a controversial privatisation last year, were among the biggest fallers on the FTSE 100, down 1.8% to 475p. They were floated at 330p but at one point climbed above 600p.
The group said French competition authorities were investigating breaches of anti-trust laws “in connection with a broader investigation into alleged activities within the industry in France”. Dutch postal company TNT Express and the US firm FedEx have also confirmed they are being investigated and face possible fines.