Poste Italiane Interest Ruled Anti-Competitive
Under EU rules that prohibit state aid to postal operators that would give that operator an unfair commercial advantage, Poste Italiane has been ordered to repay an undisclosed sum.
The European Commission found that interest rates paid by the Italian Treasury to Poste Italiane from 2005 to 2007 on Poste Italiane current accounts, was higher than if they had been obtained commercially, giving Poste Italiane an unfair advantage over its competitors and that Italy did not notify the EC of its intentions.
Neelie Kroes, European Commissioner for Competition said that it was essential that there remained a level playing field among competitors and that the illegal aid given to Poste Italiane must be recovered under EC rules.
