EU set to agree Alstomrescue this week

17th May 2004, Comments 0 comments

BRUSSELS, May 17 (AFP) - EU Competition Commissioner Mario Monti said Monday there was a "basis for an agreement this week" on a rescue plan for troubled French engineering giant Alstom which does not breach EU rules.

BRUSSELS, May 17 (AFP) - EU Competition Commissioner Mario Monti said Monday there was a "basis for an agreement this week" on a rescue plan for troubled French engineering giant Alstom which does not breach EU rules.

"We are very close to an accord involving commitments by French authorities concerning the Alstom group, which should be finalised before the end of this week," he said after talks with French Finance Minister Nicolas Sarkozy.

Such an agreeement "should allow me to propose to the (commission) a positive decision."

In Paris, a European source told AFP that the draft agreement would avoid a breakup of Alstom, but foresaw "targeted divestments" of some activities.

© AFP

Subject: French news

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