FRENCH PARCEL
May 1st, 2001
BY KEITH NUTHALLFollowing a decision today (Wednesday) by the European Commission, the way has been cleared for the sale of the French parcel and equipment delivery company Sernam to the transport company Geodis, also French. The Commission said the French government would be allowed to proceed with restructuring aid of about FF 2.9 billion (pounds 270 million) to Sernam, a subsidiary of the state owned railway company SNCF. Approval of the cash by Brussels was a condition of the deal.Geodis is to restructure the group and knit its operations into those of its ...
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