From c1972 the BBC used their own PCM system to send Radio 3 in stereo around the country. It used 13-bit 32KHz with no compression or lossy encoding.
iirc they then started using Optimod later to boost the lower volumes for car radios.... ..maybe 1990s..
There is a very detailed article on the web somewhere about all of this.
The only place you could get 'best FM' was near the transmitter in Wrotham (?) (London-ish).
6 major satellite transmitters in the UK then had it piped as PCM to save cost on phone lines.
(Satellite in this context means remote, not things in space).
This eqated to about 850Kbps.
FLAC equates to about 60% file size of pure PCM, and AAC about 15% less iirc. (AAC is lossy though).
So, you would theoretically need to transmit digital radio in AAC format at c400Kbps to match Radio3 13 bit PCM as was (not sure if it still is).
- but as some of the stuff thrown away by lossy encoders is supposed not to matter, then maybe 320Kbps AAC does just about match old, good, Radio3 FM.
Other commercial stations (plus BBC Radio1, 2 etc) are all heavily compressed.
Only Radio 3 FM has a chance of being good quality now - but that depends on what lossy compression and Dynamic Range Compression they are using now.