The EU General Court rules again on whether public pronouncements confer an advantage to undertakings (France Télécom)

When Do Public Pronouncements Confer an Advantage to Undertakings?* Public pronouncements can confer an advantage if they are sufficiently precise and clearly commit a public authority to support an undertaking. Introduction [1] Politicians often claim that they would never allow important national companies to go bust. Occasionally, such claims appear to sway market sentiment in favour of those companies. Private investors are heartened by the avowed support of the government and become more willing to commit their own money in the companies that the state considers to be indispensable. But are private investors so naïve? Do they really take politicians’ words at face value? About ten years ago, the Commission concluded in a case involving France Telecom that markets did believe

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Phedon Nicolaides, The EU General Court rules again on whether public pronouncements confer an advantage to undertakings (France Télécom), 2 July 2015, e-Competitions Bulletin July 2015, Art. N° 77162

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