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Since the revision of France’s postal laws in 2005, La Poste has been under the regulatory authority of ARCEP, or the Autorité de Régulation des Communications Electroniques et des Postes, an independent administrative authority. Liberalization of the French postal market has come in stages. The market for mail weighing more than 100 grams — or costing at least three times the price of a basic stamp (a stamp costs €0.46, or £0.63) — was completely liberalized in 2003.