EU commission widens Finmeccanica state loans probe |
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Published
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Fri, 15 Jun 2007 07:03
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BRUSSELS (Thomson Financial) - The European Commission has widened its investigation into Finmeccanica to determine whether the Italian defence group not only illegally benefited from interest-free state loans but also failed to repay them, the Financial Times reported.The probe, which dates back to 2003, focuses on Italian government funds created in the 1990s and granted in the form of interest-free loans for aeronautics research.The newspaper quoted a Commission spokesman as saying the loans might not have been entirely repaid. He said the Italian government had not produced evidence that the loans had been repaid, and an Italian court of auditors report had backed up suspicions.tf.TFN-Europe_newsdesk@thomson.comjmsCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Report: poor hit hard by tax loans 