2006/621/EC: Commission Decision of 2 August 2004 on the State Aid implemented by... (32006D0621)
2006/621/EC: Commission Decision of 2 August 2004 on the State Aid implemented by France for France Télécom (notified under document number C(2004) 3060) (Text with EEA relevance)
- COMMISSION DECISION
- of 2 August 2004
- on the State Aid implemented by France for France Télécom
- (notified under document number C(2004) 3060)
- (Only the French version is authentic)
- (Text with EEA relevance)
- (2006/621/EC)
- 1. PROCEDURE
- 2. DESCRIPTION OF FRANCE TELECOM
- 3. CHRONOLOGICAL DESCRIPTION OF THE FACTS AND FINANCIAL SITUATION OF THE COMPANY
- 3.1. The data known during the first half of 2002 and events at that time
- 3.1.1. The downgrading of France Télécom's credit rating
- 3.1.2. Analysis of credit spreads
- 3.1.3. France Télécom's share price
- 3.1.4. The events of July 2002
- 3.2. The data published on 13 September 2002 and events at that time
- 3.2.1. The data published on 13 September 2002
- 3.2.2. September 2002
- 3.2.3. October 2002
- 3.2.4. December 2002/January 2003
- 3.2.5. February/March 2003
- 4. COMMENTS FROM THIRD PARTIES
- 4.1. Comments from Telecom Italia
- 4.2. Comments from WorldCom
- 4.3. Comments from C
- 4.4. Comments from A
- 4.5. Comments from Bouygues and Bouygues Télécom
- 4.6. Comments from Cable & Wireless
- 4.7. Comments from AFORS Télécom
- 4.8. Comments from Cégétel
- 4.9. Comments from LDCOM(75)
- 4.10. Comments from B
- 4.11. Comments from Tiscalinet
- 4.12. Comments from D
- 4.13. Comments from France Télécom
- 4.14. Comments from ECTA
- 5. COMMENTS FROM FRANCE
- 5.1. Summary of the facts
- 5.2. The Company's financial situation
- 5.3. Duty of care of the State as shareholder
- 5.4. Rationality of the TOP plan
- 5.5. Application of the prudent investor principle to the participation in the strengthening of the Company's capital base
- 5.6. The shareholder loan
- 5.7. The announcements made by the State
- 5.8. Movements in France Télécom's share price and spreads
- 6. OBJECT OF THE PRESENT DECISION
- 7. ASSESSMENT OF THE MEASURE AT ISSUE IN THE LIGHT OF ARTICLE 87(1) OF THE TREATY
- 8. PRINCIPLE OF THE PRUDENT PRIVATE INVESTOR IN A MARKET ECONOMY
- 9. COMPATIBILITY OF THE AID
- 10. RECOVERY OF THE AID
- 11. CONCLUSIONS
- Article 1
- Article 2
- Article 3
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