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Spanish compensation to postal operator Correos wins EU clearance

( May 14, 2020, 09:45 GMT | Official Statement) -- MLex Summary: Spanish aid worth 1.28 billion euros to the benefit of state-owned Correos, for its universal postal-service obligations from 2011 to 2020, is in line with EU state-aid rules, the European Commission has said. The measure enables Spain's biggest postal operator to continue delivering basic postal services at affordable prices nationwide, without unduly distorting competition, said EU antitrust chief Margrethe Vestager. A sum of 1.219 billion euros was already paid to Correos prior to notifying the aid, and the commission's assessment shows that the measure wouldn't lead to overcompensation. With today's decision, the commission is also rejecting a complaint by two industry organizations that alleged that Correos received incompatible state aid.Statement follows. ...

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