Royal Mail PLC (GB:IDS) has released an update.
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Royal Mail PLC, part of International Distributions Services plc, is confident in its growth prospects, rejecting a takeover bid by EP Corporate Group a.s. as undervaluing the company. They have submitted a detailed proposal to Ofcom for the reform of the Universal Service Obligation, aiming to save up to £300 million annually and improve efficiency without legislative changes. The company emphasizes strong recent performance, with operational improvements under new CEO Martin Seidenberg, and expects further progress to be reported in May.
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