A police investigation into DX Group's Exchange business has been dropped a month after it opened.

The preliminary investigation by City of London Police Economic Crime Directorate was announced on 7 June after an allegation was made against the company.

In a statement today (7 July) DX said it had been notified that "after careful consideration of allegations made, the City of London Police will not be proceeding to a full investigation".

However the group added that it had made changes to some of the business's processes, which will remain under revew.

Last month DX announced it had resolved differences with its shareholders over its proposed acquisition of John Menzies' distribution arm.

Menzies confirmed that it was aware the investigation had been dropped and that talks surrounding the deal would go ahead as planned.

A statement from the company said: "The Board of John Menzies continues to believe that the combination of DX and John Menzies' Distribution division has strong strategic logic for all stakeholders and that the transaction represents an opportunity to deliver significant value.

"Discussions between John Menzies and DX are ongoing and a further announcement will be made as and when appropriate."

The statement said: "The company cooperated with the City of London Police’s preliminary investigation, which centred on the DX Exchange operations, and in addition has reviewed and made changes to internal business processes in this unit, which will be kept under review."

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