Press Release: State aid: ‘Poste Italiane’ – Commission endorses remuneration for distribution of postal savings books; opens investigation into distribution of postal bonds

The European Commission has decided under EC Treaty state aid rules that the remuneration paid by 'Cassa Depositi e Prestiti' to 'Poste Italiane' for the distribution of postal savings books from 2000 to 2005 is consistent with market conditions and therefore does not constitute state aid. However, the Commission has opened a formal investigation under the state aid rules into the remuneration paid to Poste Italiane for the distribution of postal bonds. The latter remuneration may be higher than the market price and could therefore constitute an illegal subsidy. The opening of an in-depth investigation gives interested parties an opportunity to comment on the measure. It does not prejudge the outcome of the procedure.