Press Release: Commission gives the green light to Fret SNCF restructuring

The European Commission on 2 March 2005 decided to approve the financing arrangements for the restructuring of Fret SNCF, part of the SNCF group's Freight Division and second largest rail-freight carrier in Europe. Fret SNCF had been in serious financial difficulties for several years. The measures examined were part of a comprehensive restructuring plan to make the operator viable again. The Commission considered that this plan was compatible with the European rules to the extent that it was strictly geared to restructuring Fret SNCF and includes measures to reduce capacity and bring forward the date for opening up the French rail market.

Fret SNCF: Homepage http://fret.sncf.com/fr/index.asp

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