BELGACOM
January 1st, 2004
BY KEITH NUTHALLA EUROPEAN Commission investigation has decided that the transfer of pension obligations for Belgian telecommunications company Belgacom's statutory employees to the Belgian government does not involve the payment of an illegal subsidy. In a state aid inquiry, the Commission found that the transfer is financially neutral because in exchange for transferring its pension obligations, Belgacom pays the Belgian government funds that match their costs. The Commission said that it was satisfied that the liabilities had been properly valued by an ...
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