Royal Mail takeover

ROYAL Mail is splashing out £ 214m on a Canadian parcels firm as it boosts its presence outside of the UK.

It is buying Dicom Canada from Chicago private equity firm Wind Point Partners.

Since 2016 Royal Mail has spent around £80m on North American businesses Postal Express and Golden State Overnight.

Dicom Canada will become part of Royal Mail’s European subsidiary GLS, which accounted for 33pc of group profits last year.

The group is battling against the likes of online retailer Amazon which often use their own delivery services.