Brussels, 02/12/2004 (Agence Europe) - On 2 December the European Commission, as expected (EUROPE 2 December p 12), authorised aid to French IT firm Bull. €517 million in aid for restructuring will be paid only after rescue aid granted in 2001 and 2002 has been reimbursed, which should have been paid back in June 2003. In return for the aid, Bull is to pay the French Government 23.5% of its pre-tax current profits over a period of eight years beginning in 2005.
The Commission's analysis...