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Conditional EU clearance gained for Alstom State Aid package.

In September 2003, France granted a State Aid package to rescue Alstom and assist the group's restructuring effort. The EU Commission examined the amount and format of the State Aid package and formally decided today to approve the restructuring package subject to compensatory measures. Working with Professor Damien Neven, we made submissions to the Commission during its investigation on issues such as the analysts` assessment of Alstom's long-term viability and the economic issues related to the restructuring of the company's debt. For more information see EU Press Release

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