Italy's Loan To Alitalia May Have Violated Rules: EU
By Ryan Davis (July 23, 2008, 12:00 AM EDT) -- The European Commission said on Tuesday that Italy's €300 million ($465 million) emergency loan to keep Alitalia SpA running may have violated EU rules and provided the airline with an unfair advantage.
The commission's statement on the ongoing investigation, which began in June, came in the Official Journal of the European Union.
"On the basis of the information at its disposal at this stage, (the commission) takes the view that this aid measure should not be declared compatible with the common market in accordance with the community guidelines on state aid for rescuing and restructuring firms in difficulty," the statement said....
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