Feeds

Groupe Bull feels cold steel of EU probe

French gob bailout under the microscope

  • alert
  • submit to reddit

The essential guide to IT transformation

The French government has agreed to put its rescue plan for Bull on hold while the EC investigates the deal.

As part of the surreal deal, the French government agreed not to pay any more money to Bull until the company pays back part of the assistance it was given in 2001 and 2002. This should have been repaid in June 2003.

Bull will receive no more money until 31 December 2004.

In February this year France offered €517m in aid. In return, Bull will pay 23.5 per cent of "annual consolidated result before tax" for eight years, which the French government estimates at between €50m and €60m.

The Commission investigation will seek if the rescue package guarantees a return to viability, avoids unduly distorting the market and aid is the minimum required and does not leave the company with spare cash.

The EC press release is here. ®

Related stories

Intel downbeat about 64-bit extensions
SGI sees gravy coating midrange Linux on Itanium servers
Intel toasts Itanium's success by giving servers away

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.