March 10, 2017 / 4:00 PM / 4 months ago

EU clears Portuguese recapitalisation of Caixa Geral de Depositos

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BRUSSELS, March 10 (Reuters) - The European Commission said on Friday it had cleared Portugal's 3.9 billion euro ($4.16 billion) recapitalisation of state-owned Caixa Geral de Depositos as it was carried out on market terms and therefore involved no new state aid.

"Our assessment showed that Portugal's state as the sole owner, is investing under the same conditions as a private owner would have accepted. Therefore, the recapitalisation by the State involves no new state aid," EU Competition Commissioner Margrethe Vestager said in a statement. ($1 = 0.9384 euros) (Reporting by Julia Fioretti, editing by David Evans)

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