Candover moves into mail with pounds 349m DX deal
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Candover, the private equity company, yesterday took the fight to the ubiquitous Royal Mail after agreeing to pay pounds 349m for DX Services, the private post group spun out of the former conglomerate Hays 18 months ago.
Royal Mail still has a market share of more than 96 per cent in the UK, despite attempts to open up the market to competition.
Paul Kehoe, the chief executive of DX, said: “There has been 350 years’ worth of inertia in this market and the red post boxes continue to dominate.”
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