Investing.com -- Britain’s media regulator Ofcom has established new minimum delivery deadlines for Royal Mail (LON: IDSI ) and adjusted existing targets, potentially enabling the postal service to save up to £425 million ($578.3 million).
The regulatory changes include a requirement that Royal Mail must ensure 99% of mail is delivered no more than two days late.
Additionally, Ofcom has reduced the delivery targets for "First Class" mail from 93% to 90% for next-day delivery, and for "Second Class" mail from 98.5% to 95% for delivery within three days.
The changes were announced by Ofcom on Thursday as part of its regulatory oversight of the UK’s postal services.
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