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France: EU’s top appeals court re-reverses ruling against France Telecom after a decade

By  |  March 19, 2013
France: EU’s top appeals court re-reverses ruling against France Telecom after a decade

A more-than decade-long case has finally met its end as the European Union’s highest court of appeals has overturned a previous ruling, resulting in the decision that aid given to France Telecom constituted illegal state aid. The saga began in 2002 when the French government agreed to about $11.6 billion in aid for France Telecom as the company’s stocks tumbled. The European Commission, however, ruled that the financial support was illegal state aid, but did not order that the aid be returned. The General Court overturned the Commission’s decision in 2010, ruling that the aid did not cause a reduction of France’s budget. The Court of Justice, however, has re-reversed the ruling and said the aid gave the company an advantage.

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