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Europe Daily Bulletin No. 10839

3 May 2013
ECONOMY - FINANCE - BUSINESS / (ae) state aid
SNCM must repay French aid of €220 million

Brussels, 02/05/2013 (Agence Europe) - On Thursday 2 May, the European Commission ordered the repayment of €220 million in state aid by Société Nationale Corse-Méditerranée (SNCM) on the grounds that the aid from France breaches EU competition rules. Tough news for the struggling ferry company.

The Commission recently concluded an in-depth investigation following a complaint by SNCM's main competitor, Italy's Corsica Ferries. The Commission concluded 1) that public service...

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