Ad hoc: Deutsche Post World Net to appeal against EU decision and to charge provisions06/19/2002
Deutsche Post World Net today was informed of the decision of the EU-Commission on the state aid case against the Federal Republic of Germany (C-61/99 Deutsche Post). The commission decided to impose an obligation on the Federal Republic of Germany to demand from Deutsche Post World Net a repayment of unlawful state aid - according to the EU-Commission - in the amount of c. Euro 570 million.
Deutsche Post World Net will file legal proceedings against this decision with the court of first instance as Deutsche Post World Net reiterates its stance that there is no state aid and points out that there are also procedural errors in the decision.
Within the next two months the German Government has to decide on the modus of repayment. DPWN will provision for a one-off effect of c. Euro 850 million ( Euro 570 million for the years 1994 to 1998 plus accrued interest ) in its accounts.