Brussels, 27/06/2005 (Agence Europe) - In a press release, the Commissioner for Transports, Jacques Barrot, has welcomed the decision taken on 27 June by the joint Galileo company to start negotiations on a concessions contract with the company born of the merger between Eurely/Inavsat, stating: "the joint offer contains substantial improvements, compared to the separate offers on the table". For example, it provides "larger commercial revenue, by pooling knowledge (…). There is a clear joint negotiation structure (…), with genuine decision-making powers. Once the contract is signed, a completely separate company will be formed. This new offer also corresponds strictly to the planned timetable" (see EUROPE 8974 and 8976). The negotiations, which will be concluded before the end of the year, aim to specify the respective obligations of the concession-holder and the public authorities, particularly as they relate to funding and the cover of risk.