Top News

EU approves 1.3 billion euros state compensation to Poste Italiane

BRUSSELS (Reuters) - The European Commission authorised on Monday compensation of 1.3 billion euros (1.16 billion pounds) to Poste Italiane granted by the Italian government to fulfil the company's public service mission, the EU executive said in a statement.

The state funding covers the 2020-2024 period, with a maximum annual compensation of 262 million euros to the post office.

"Ensuring access to postal services is essential for all European citizens and businesses. Today's decision enables Poste Italiane to continue delivering basic postal services across the Italian territory at affordable prices, without unduly distorting competition," EU antitrust commissioner Margrethe Vestager said.

($1 = 0.8354 euros)

(Reporting by Francesco Guarascio @fraguarascio; editing by Philip Blenkinsop)

Did this story inform or enhance your perspective on this subject?
1 being least likely, and 10 being most likely

Recent Stories