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Comment: e&-PPF probe signals first big test for EU’s foreign-subsidy tool

By Tono Gil and Lewis Crofts ( June 11, 2024, 14:49 GMT | Comment) -- Concerns that Emirates Telecommunications Group from the United Arab Emirates could get financing on preferential terms in Europe after acquiring assets from PPF Telecom represent the first clash between a merger and foreign-subsidy rules and a test case for how the rules were to work in pressure situations. The European Commission will have to get its hands dirty on analyzing telecoms markets in the wake of the transaction, and not just the effects of the subsidies on the bidding activity. This could mean the first runout for the law's balancing test, which weighs the potential upside of a deal against the downside of the subsidies.Concerns that Emirates Telecommunications Group from the United Arab Emirates could get financing on preferential terms in Europe after acquiring assets from PPF Telecom represent the first clash between a merger and foreign-subsidy rules and a test case for how the rules were to work in pressure situations....

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