DX Group is being investigated by City of London Police, after an allegation was made against its Exchange business on 7 June.

In a statement, DX Group confirmed that the City of London Police Economic Crime Directorate had notified the company of the allegation and that a preliminary investigation had commenced.

A spokeswoman for City of London Police told MT: “The City of London Police's Economic Crime Directorate is scoping information it has received and is liaising closely with DX (Group).”

Last week DX Group announced that it had resolved a conflict with its largest shareholder over a proposed deal to acquire the distribution arm of John Menzies.

It said at the time the deal could be finalised this summer.

In response to the latest news, Menzies said it was aware of the preliminary investigation into DX’s Exchange operation.

“The board of John Menzies is considering its position and will make a further announcement as and when appropriate,” it added.

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