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Network subsidy and continued liquidity facility approved for U.K. Post Office

By  |  March 28, 2012
Network subsidy and continued liquidity facility approved for U.K. Post Office

The European Commission has approved U.K. aid for the UK Post Office. The U.K. is to grant £1155 million to keep the Post Office open and modernize non-commercially viable offices. The plan also calls for continuing working capital facility of up to £1150 million so that the Post Office can carry out its public service obligations. The liquidity facility is to be continued under revised terms, including an increased interest rate, which the Commission found to satisfy the requirement that the funding is provided on market conditions.

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    Full content: EC Press Release

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