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Image header Agence Europe
Europe Daily Bulletin No. 8356
Contents Publication in full By article 17 / 33
GENERAL NEWS / (eu) eu/competition

Commission studies aid to France Telecom

Brussels, 06/12/2002 (Agence Europe) - Tilman Lueder, spokesman for Commissioner Mario Monti said that the relevant services were to study the recovery plan adopted by the French government towards France Telecom in which it is a majority shareholder, to determine if it comprises elements that could be viewed as State aid. This plan, that provides for the State providing 9 billion euro to the company to help it pay its debt of 70 billion euro, is not "public aid" but a "heritage operation", under market conditions, said Alain Lambert, Minister for the Budget. This "advance at market rates" was thus not notified to the Commission, that was "only informed of the situation" and that will pass down its verdict within two months so as to check whether the conditions are there to authorise the transaction. Otherwise, "formal notification will be necessary", notes Mr. Lueder.

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