Press Release: State aid: ‘Poste Italiane’ – Commission endorses EUR 2.4 billion public service compensation for 2000-2005; opens investigation into interest rates for funds collected as of 2005

The European Commission has decided not to raise objections under EC Treaty state aid rules to compensation paid to ‘Poste Italiane’ from 2000 to 2005 to meet the costs of fulfilling its public service obligations. However, the Commission has opened a formal investigation under the state aid rules into the level of interest rates applied to the funds collected from Poste Italiane’s customers’ current accounts and deposited with the Treasury as of 2005. The opening of an in-depth investigation gives interested parties an opportunity to comment on the proposed measures. It does not prejudge on the outcome of the procedure.