EC investigates Oltchim over ‘state aid’

Newsroom 21/09/2009 | 15:34

The commission, the bloc's regulatory arm, suspects Romania's aid to Oltchim would not have been offered by a private-sector lender or investor. “The commission has to verify if the measures proposed in the Oltchim case constitute state aid and, if so, whether these measures would raise a competition issue,” said Neelie Kroes, competition commissioner. European Union rules prohibit most state subsidies to business, including loans provided at below-market rates.
Dana Ciuraru

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