UPDATE: EU: Opel Aid Must Not Contain Pacts Between Nations
23 Setembro 2009 - 12:38PM
Dow Jones News
The European Commission Wednesday repeated its warning to
Germany that it will carefully scrutinize any state aid provided to
carmaker General Motor Co.'s European arm, Adam Opel GmbH to ensure
it follows the European Union's strict rules on state aid.
The commission will look into reports that a number of European
governments are negotiating over the financial support for Opel,
and possibly linking the aid to the number of workers finally
retained by New Opel in different countries, it said.
"The European Commission will not accept state aid that is
conditional upon the implementation of a specific business plan,
previously negotiated with member states, which defines the
geographic distribution of restructuring measures," said the
commission's spokesman on competition matters, Jonathan Todd.
Managers of the Opel business must be allowed to revise any
plans to ensure that it can slim down its operations as required to
ensure the long-term viability of the company, the commission
said.
The German government has promised EUR4.5 billion in public
financing for Opel but the bailout package has prompted fears from
other states with Opel plants, or plants operated by its sister
brand Vauxhall, that it will be conditional on keeping German
plants open at the expense of more efficient plants elsewhere.
-By Carolyn Henson, Dow Jones Newswires; +32 2 741 1481;
carolyn.henson@dowjones.com