€755 million placed in escrow following the ruling of the European Court of Justice on 18 October 2007
Paris, October 25, 2007
In its ruling of October 18, 2007, the European Court of Justice concluded that
the French authorities had failed to respect their obligation to execute within
the prescribed time limits the August 2, 2004 decision of the European Commission
relating to the special business tax regime which the law of July 2, 1990 had
imposed upon France Telecom. Following the October 18 ruling, The Commission
requested its rapid execution using as a basis the minimum amount of €798 million
mentioned in the 2004 decision.
Under these circumstances, France Telecom has decided to place €755 million in an escrow account pending the final decision on the substance of the matter. Both the French state and France Telecom having challenged the August 2, 2004 decision before the Court of First Instance in Luxembourg.
Under these circumstances, France Telecom has decided to place €755 million in an escrow account pending the final decision on the substance of the matter. Both the French state and France Telecom having challenged the August 2, 2004 decision before the Court of First Instance in Luxembourg.
contacts
contacts presse : 01 44 44 93 93
Béatrice Mandine beatrice.mandine@orange-ftgroup.com
Bertrand Deronchaine bertrand.deronchaine@orange-ftgroup.com
Béatrice Mandine beatrice.mandine@orange-ftgroup.com
Bertrand Deronchaine bertrand.deronchaine@orange-ftgroup.com
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