EU clears $2B state aid for Italy postal operator

[TrueBlueTerrier]

http://www.marketwatch.com/story/eu-cle ... 2012-11-21" onclick="window.open(this.href);return false;

BRUSSELS--Postal operator Poste Italiane Wednesday won 1.56 billion euros ($2 billion) compensation from the Italian government for public services delivered over 2009-2011.

The European Commission's anti-trust watchdog approved two compensation claims received by Poste Italiane for delivering two public services during the period. The watchdog approved compensation of EUR1.1 billion for the universal postal service and compensation of EUR458 million for reduced postal tariffs offered, over the same period, to publishers, not-for-profit organizations and electoral candidates.

The measures were in line with EU rules on public service compensation since, in particular, they did not over-compensate Poste Italiane for providing these services, and therefore did not lead to cross-subsidisation of commercial activities.