By Daniel Hunter

Royal Mail has agreed to set aside £18m to cover any fines imposed by French competition authorities.

Royal Mail said GLS, one of its French subsidiaries, may have antitrust rules in the country.

Royal Mail said: "By agreeing to settle and provide compliance commitments now, Royal Mail will benefit from a reduction to any fine."

The full amount of any fine won't be known until the French competition authorities completes their investigation until the second half of the 2015-16 financial year.

Royal Mail isn't the only parcel delivery firm being investigated. La Poste, DHL/Deutsche Post, FedEx, TNT Express, and SNCF are all under investigation by the French authorities.

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