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March 1, 1994

FRANCE AGREES TO HOLD THE FINAL $425m TRANCHE OF AID TO BULL

By CBR Staff Writer

France has agreed to freeze the final $425m of aid to Compagnie des Machines Bull SA until the European Commission has given its approval, Competition Commissioner Karel Van Miert announced yesterday. According to Reuter, Van Miert said after a meeting with French Prime Minister Edouard Balladur that the Commission’s inquiry would not take more than six months, adding that he expected a detailed plan for Bull’s restructuring in the next few days, adding that he was impressed by outlines of the plan given by new chief Jean-Marie Descarpentries. Van Miert stressed that the plan was to privatise Bull and for that to feasible the enterprise had to become viable.

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