0
General

EU to order Telefonica to pay back "illegal aid" - report

Wednesday 15 October 2014 | 10:44 CET | News
The European Commission is set to order the Spanish treasury to recover "illegal aid" granted as tax cuts to leading companies including Telefonica, Banco Santander and Abertis, reports El Pais, citing unnamed EC sources. The tax probe led by outgoing EU competition commissioner Joaquin Almunia centres on aid given to Spanish multinationals to facilitate the buyout of foreign companies. Although the sums involved have not been quantified and sources close to the companies insist that only a fraction of the aid has been spent, the cuts amount to ''several thousands of millions of euros''

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: European Commission / Telefonica / Vivo
Countries: Spain
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

EC approves Ziggo acquisition by Liberty Global

Published 10 Oct 2014 12:08 CET | Netherlands
The European Commission has approved the proposed acquisition of Ziggo by Liberty Global, pending a few conditions. To address ...

EU to investigate Amazon's tax deal with Luxembourg - report

Published 07 Oct 2014 10:01 CET | Europe
The European Commission is set to launch an official investigation into Amazon's unorthodox tax deal with Luxembourg, reports the ...

EU gives green light to Facebook takeover of WhatsApp

Published 03 Oct 2014 14:58 CET | Europe
The European Commission has cleared Facebook's proposed USD 19 billion takeover of mobile messaging provider WhatsApp, confirming ...

New EU antitrust chief says Google, Apple probes a priority

Published 03 Oct 2014 13:46 CET | Europe
Margrethe Vestager, who has won the European Parliament's backing to become the European Union's new competition commissioner, ...

EU's Almunia threatens Google with antitrust charges

Published 23 Sep 2014 12:41 CET | Europe
Google must improve its proposal to settle European Union concerns over its search practices or face formal antitrust charges, ...

News Corp wants EU to get tougher with Google

Published 19 Sep 2014 11:29 CET | Europe
News Corp chief executive Robert Thomson wants the EU to take a tougher line with Google, the Financial Times reported. Thomson ...

EU may seek more search concessions from Google

Published 09 Sep 2014 08:41 CET | Europe
European Union regulators are trying to extract more concessions from Google after hostility to plans to settle the four-year ...

EC rejects Google's latest antitrust offer - report

Published 05 Sep 2014 09:25 CET | Europe
The European Commission has rejected Google's second proposal to settle the antitrust investigation into its search business ...