uk-mail

German postal giant Deutsche Post is set to snap up UK Mail Group for £242.7 million. Shares in UK Mail leaped on the news from 311p to around the agreed offer price of 440p. The shares had been under a cloud after technical problems, after moving to a new automated sorting centre, dampened profits. UK Mail originated as a taxi company in Harrow in 1971, but grew to compete with Royal Mail, and has 54 sites across the UK, 2,500 vehicles, and more than 25,000 customers.