Competition weekly news summary
8 January 2016

Mergers

  • Commission approves acquisition of small package delivery services provider TNT Express by FedEx
    8 January 2016
    The European Commission has approved under the EU Merger Regulation the proposed acquisition of TNT Express by FedEx Corporation. Both companies offer world-wide small package delivery services. Following an in-depth investigation opened in July 2015, the Commission has concluded that the acquisition will not give rise to competition concerns, because FedEx and TNT are not particularly close competitors and because the merged entity will continue to face sufficient competition from its rivals in all markets concerned.
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  • Commission approves acquisition of Elster by Honeywell, subject to conditions
    21 December 2015
    The European Commission has approved under the EU Merger Regulation the proposed acquisition of Elster by Honeywell, subject to divestment of Honeywell's gas metering business.
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State Aid

  • Commission invites comments on functioning and future of simplified procedure for treatment of certain types of aid
    6 January 2016
    The European Commission has launched a public consultation to seek stakeholders' views on the Commission Notice on a Simplified Procedure for the Treatment of Certain Types of Aid. This Notice sets out the conditions under which the Commission can follow a simplified procedure for assessing certain types of state aid cases. The Commission consultation seeks feedback from public authorities, citizens, companies, organisations and other interested parties on their experience with the implementation of the Notice. In light of the replies, the Commission intends to carry out a review to take account of feedback received as well as to reflect changes brought about by the Commission's State Aid Modernisation (SAM) initiative. Comments are invited until 6 April 2016. Further information as well as the full text of the questionnaire is  available on the consultation page.  
  • Commission opens in-depth investigation into UK public support for Drax power plant
    5 January 2016
    The European Commission has opened an in-depth investigation to assess whether the United Kingdom's plans to support the conversion of part of the Drax coal power plant to operate on biomass are in line with EU state aid rules. The Commission fully supports Member State efforts to increase the use of renewable energy and pursue EU energy and climate objectives. At the same time, EU state aid rules make sure that the cost of such support for consumers is limited and does not give certain operators an unfair advantage over competitors.
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  • Commission finds Italy provided incompatible state aid to Banca Tercas and welcomes plans of private funds to step in
    23 December 2015
    Following an in-depth probe, the European Commission has concluded that the support granted by the Italian mandatory deposit guarantee scheme to Banca Tercas constitutes incompatible state aid based on the facts and circumstances at hand.
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  • Commission invites Greece to better target its "tonnage tax" and related support measures in maritime sector ase
    21 December 2015
    The European Commission has sent to Greece a set of proposals to ensure that state support to the maritime sector in Greece complies with EU state aid rules. In particular, the Commission found that current provisions may breach EU state aid rules by allowing shareholders of shipping companies to benefit from favourable tax treatment that should be reserved for maritime transport providers. Similarly, the Commission is concerned that favourable tax treatment is also extended to maritime sector intermediaries and operators of ships, which do not provide maritime transport services.
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  • Commission welcomes further restructuring and approves prolongation of liquidity measures for Portuguese bank Novo Banco to facilitate its sale process
    21 December 2015
    The European Commission has approved under EU State aid rules a prolongation of Portuguese state guarantees on bonds in the nominal amount of €3.5 billion, issued by Portuguese bank Novo Banco. In particular, the Commission found that the prolongation should contribute to ensuring the maintenance of adequate liquidity for Novo Banco. It also welcomes that Portuguese authorities have committed to additional restructuring measures to improve the bank’s viability and efficiency. Both elements should help facilitate the sale process of Novo Banco, which Portugal intends to re-launch in January next year.
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  • Commission approves additional aid up to €3 billion for the resolution of Portuguese bank Banif and asset sale to Banco Santander Totta
    21 December 2015
    The European Commission has approved Portuguese plans to provide about €2.25 billion of state aid to cover the funding gap in the resolution of Portuguese bank Banco Internacional do Funchal S.A. (Banif) as in line with EU state aid rules. Another aid measure amouting to €422 million covers the transfer of impaired assets to an asset management vehicle. Finally, the Commission approved an additional buffer in the form of a state guarantee to cater for potential recent changes of values in the part sold to Banco Santander Totta, bringing the total potential aid measures up to €3 billion.
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Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

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