commiss decis decemb state aid franc plan implement bull notifi document number french text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite regard comment procedur novemb procedur laid articl treati open respect eur million cash advanc grant franc bull close commiss decis ec posit decis condit aid repaid june novemb commiss brought action court justic european commun franc failur compli decis end begin number meet place french author bull explain content bull restructur plan stage recapitalis franc notifi aid propos present decis relat letter date februari letter date march commiss inform franc decis open procedur laid articl treati respect propos commiss decis open procedur publish offici journal european union commiss call interest parti submit comment aid question commiss receiv comment repres bull employe meet deleg repres commiss place june repres provid commiss addit inform commiss forward inform franc comment time ask number question aspect case receiv franc comment repli letter date juli meet commiss french author bull place septemb ii descript aid recipi bull intern inform technolog group base europ busi countri activ area high end profession comput server bull design market rang larg server profession mainten servic directli link server bull market share commun constitut april hereinaft call commun fifteen approxim approxim case medium high end server main competitor field ibm market share hewlett packard hp compaq sun fujitsu siemen specialis engin servic bull develop integr applic build softwar architectur sale integri divis steria bull activ market sector centr franc itali bull main competitor ibm hp bull market share commun fifteen bull turnov amount eur million broken product mainten servic bull limit compani incorpor french law sharehold juli recapitalis exercis share warrant exist bondhold franc télécom nec axa privat equiti artemi bull senior manag motorola debeka french state hold remain account float sharehold start resolv difficulti encount earli bull introduc measur provid earlier restructur plan accord commit franc commiss note decis ec octob grant state aid franc bull group form notifi capit increas zenith data system sold oss open system softwar divis close franc privatis bull open capit bull dispos asset announc redund plan result strateg refocus compani sale strateg asset reduct cost end bull emploi peopl europ compar bull difficulti prior restructur plan decis relat spite measur refer paragraph strateg plan fail crisi technolog stock market prevent bull sell heavili loss make integri divis buyer crisi internet sector hit internet base technolog busi hard collaps telecommun market burst internet bubbl greatli reduc corpor margin intern tension result contract demand corpor expenditur comput fell sharpli case medium high end server servic market suffer drastic fall compar earlier rise ow year problem changeov euro worsen econom situat event septemb weaken bull situat number year bull invest heavili internet technolog focus commerci activ concept quot servic quot quot net infrastructur quot crisi internet sector reveal bull made respect poor technolog choic concentr market unsuccess bull show mark lack consist hand ambit term market target product offer sale technolog develop invest commerci administr expenditur undertaken addit group felt backlash high charg link employe pension scheme unit state accord american standard asset consolid balanc sheet includ cost pension due repres excess pension fund asset current market discount liabil project pension right bull decid transfer pension oblig insur compani combin fall stock valu decis result financi loss eur million year uncertainti surround compani financi health led degre retic part custom carri larg project longer compani fulfil oblig year ahead supplier impos stricter payment term time bull access bank guarante dri restructur plan decemb chairman appoint head bull restructur plan adopt board director march involv massiv reduct overhead staff refocus compani strength substanti industri asset sale growth strategi base main element upgrad rang larg busi server time guarante continu solut custom coupl competit technolog develop posit european leader intel bit architectur base solut open sourc softwar target market continu develop servic activ area bull stand provis complet solut hardwar middlewar applic prioriti sector public sector tax custom author social servic govern defenc secur telecommun oper main strand financi compon reduct eur million debt ow convert bond holder combin offer convert secur equiti equiti coupl stock option reflect extens due date bond reduct yearli coupon payment abolit redempt premium term offer exchang bond altern share bond altern share stock option exercis decemb vast major chosen altern suppos systemat exercis stock option convert bond holder contribut eur million capit increas launch market guarante tune eur million group investor nec franc télécom bull histor sharehold eur million debeka german insur compani bull major custom eur million invest fund axa privat equiti artemi eur million eur million lastli senior manag bull group eur million realiti public contribut eur million investor contribut amount amount guarante total increas eur million aid section consist eur million payment coupl fortun claus measur implement bull group equiti capit amount eur million financi project plan tabl tabl eur million turnov ebit net result descript aid notifi aid form eur million payment french state made decemb earliest amount equival rescu aid authoris decis ec includ interest payment decemb june aid paid bull reimburs rescu aid exchang french state impos fortun claus form payment state bull annual consolid current result tax period year start financi year end decemb french author claus repres present eur million eur million maximum amount aid eur million approxim exist debt french author seek ensur treatment similar convert bond holder likewis forego approxim claim iii ground open procedur laid articl treati decis open procedur laid articl treati includ preliminari assess aid measur light commun guidelin state aid rescu restructur firm difficulti hereinaft call guidelin decis commiss doubt plan guarante return viabil latest financi figur point return viabil event balanc sheet restor commiss consid year short period demonstr return viabil forecast relev market detail agre appear market remain problemat short term importantli inform provid french author make assess bull capabl benefit growth market group remain industri activ reli heavili manufactur system competit intens recapitalis plan involv partner present franc télécom nec view larg amount aid involv commiss doubt undu distort competit avoid aid limit minimum need avoid provid compani surplu cash aggress market distort activ link restructur process instanc clear solvenc liquid ratio aid paid compar competitor relev market iv comment parti franc franc commun discount project relev market inform lead competitor financi data event recent month includ success recapitalis plan franc stress aid accompani substanti financi commit privat sharehold creditor competit standpoint bull continu exist promot competit european market hamper bull market share enabl plai price leader role plai role outsid help make competit liveli implement bull strategi base itanium open sourc enhanc role futur franc observ improv compani result held poor market condit forecast view background difficult environ show oper result similar ebit eur million net profit eur million half compani succeed appreci reduc break point circumst improv discount turnov year due hope market recoveri launch bull offer restor financi situat necessarili lead growth profit busi plan period show compani return viabil last base growth intel bit architectur base server bull made technolog choic correspond custom year ahead technolog bull server offer fresh avenu growth scientif calcul field relat servic bull strategi stand meet point distinct compet prioriti sector area compet integr deploy open infrastructur secur inform system info manag distribut system prioriti sector bull faith custom belong govern depart telecommun oper public servic util compet sector choic perfectli phase lead market trend appar expert analys optimis reduct infrastructur cost gener open infrastructur deploy urbanis consolid inform system area excel bull administr securitis bull activ guis cryptograph equip supplier softwar publish integr bull quickli establish emerg market mobil platform electron administr generalis electron ident signatur bull strength highli rel degre concentr market high aid bull lead undu distort competit specif market bull offer credibl altern ibm bull open sourc orient strategi make competit server market dynam year aid minimum compani viabil depend fact reconstitut equiti capit aid debt reduct essenti element investor agre invest part financ need restor compani viabil provid borrow bull surplu cash aid paid aid restor equiti capit adequ excess level born debt capit ratio ratio coverag short term debt circul asset compar ratio lead competitor privat contribut restructur plan concern element combin effort made compani capit increas contribut convert bond holder franc recal recit decis ec authoris payment rescu aid bull commiss expressli state franc grant restructur aid bull decemb repres bull employe support restructur plan stress import aid ensur compani surviv safeguard exist job endors inform provid french author transmit addit data refer materi compani viabil competit comment forward french author voic agreement assess aid exist aid articl treati state quot aid grant member state state resourc form whatsoev distort threaten distort competit favour undertak product good affect trade member state incompat common market quot measur notifi franc constitut aid mean articl treati grant state financ state resourc favour specif undertak bull incompat principl privat investor market economi maintain state act capac condit convert bond holder franc claim concern state rescu aid reimburs deadlin expir renounc claim grant aid amount equival aid reimburs inconsist conduct privat investor assess accord privat investor principl notifi measur differ form underli condit financi measur sharehold convert bond holder event notifi measur accompani compar financi commit part sharehold aid affect trade member state distort threaten distort competit ow fact bull intern compani product subject intern trade bull competitor common market ibm fujitsu siemen sun hp french author question assess compat aid notifi measur assess ad hoc state aid articl treati derog gener incompat rule set articl articl treati aid facilit develop econom activ aid advers affect trade condit extent contrari common interest compat common market basi commiss adopt specif guidelin purpos assess aid rescu restructur firm difficulti light figur relat capit clear bull consid difficulti mean point guidelin group difficulti mean point guidelin consider commiss take view commun framework provis aid present case declar compat common market franc invok derog treati base exclus guidelin defend compat aid question commiss assess aid light guidelin guidelin lai cumul condit authoris restructur aid plan guarante long term viabil avoid distort competit aid limit minimum full implement restructur plan principl quot time time quot laid judgment deggendorf applic restor viabil point guidelin accord guidelin grant aid condit implement restructur plan endors commiss case individu aid restructur plan durat short restor long term viabil firm reason timescal basi realist assumpt futur oper condit restructur aid link viabl restructur plan member state concern commit aid question link restructur plan march financi compon aid notif plan concern period end financi situat restor structur put place measur implement recapitalis complet period end consid reason time span order restructur compani offer adapt activ reflect trend relev market plan base realist hypothes futur oper condit take account slow market recoveri optimist present scenario outcom recapitalis optimist closest current outcom underscor establish consist compani strategi strength custom technolog develop technolog commerci uncertainti plan appear suffici precis view addit inform french author improv viabil stem intern measur cessat core busi activ restructur offer reduct overhead compani difficulti brought poor technolog choic concentr market bull unsuccess activ abandon includ network servic number european countri reason underli specif loss relat pension scheme recur senior manag replac bull refocus strength restructur oper perform year gross margin turnov research develop expenditur commerci expens administr cost exceed gross margin eur million year restructur plan right imbal research develop expenditur set fall eur million eur million year commerci expens administr cost set fall eur million eur million year project account conting provis judici award head increas turnov basi project futur ebit estim conting current cost half support project point view commiss consid restructur plan make satisfactori oper perform forecast relev market futur demand expect pick albeit slowli past decad ow factor combin lower commun charg develop high speed network growth teleprocedur public sector upsurg applic share internet increas mobil increas account secur constraint lastli generalis digit technolog place pre exist analogu tool latest forecast idc intern data corpor year european market server grow volum medium high end server market server base intel bit compon major growth area bull enjoi consider expans estim worth usd billion account server market compar idc studi date decemb forese western europ increas corpor expenditur servic server recent forecast gartner novemb servic western europ annual averag growth rate case server amount growth depend technolog intel itanium compon form basi bull rang server gener turnov eur billion market servic highli dispers highli competit perman state restructur medium long term expand rapidli market product conclus condit relev market call question return viabil make increas share total sale gross margin account servic provid restructur plan studi confirm growth project nich market target bull opportun technolog chosen viabil medium long term larg gco server instal current custom busi import cash cow replac gco server readi bull face competitor fulfil ambit modest condit background commiss note recit opt intel bit architectur base solut open sourc softwar benefit compon standardis commoditis bull plot technolog market develop custom develop increas intens competit market server market servic size bull capabl invest inconsider amount amp offer broader coher rang start up specialis small firm size provid degre depend ey custom attach strateg import choic server supplier giant ibm hp dell hand specialis larg seri product scope applic wider custom quot tailor made quot product plan target sector custom faith public sector defenc secur telecommun oper bull ambit nich player market introduct novascal rang server design replac gco system view favour independ expert bull achiev substanti refer sale product line differ compet product term cost reliabl eas size adapt bull restructur enabl establish consist offer organis short term object major compani difficulti precis lack consist rejuven staff larg complet substanti rang strateg partnership provid technolog springboard futur role plan famili server base intel processor bit processor import turnov attain total sale gross margin quot proprietari quot technolog longer involv logic margin attain level margin server gco server bit server make support complex broad system natur expens quot standard quot bit server bull gain custom trust technic qualiti bit server ad servic offer specialis compet recognis product establish cooper team custom commiss acknowledg strategi consist bull concentr sector servic segment mention made conclus abovement forrest report open sourc servic bull expertis consid superior global generalist ibm global generalist medium size bull offer full technolog coverag report mention small open sourc specialist offer coverag recapitalis plan involv industri partner oper present franc télécom nec particip debeka insur compani back strategi focus limit number sector addit bull enter number partnership embark project develop technolog kei futur activ lastli mention made signatur initi origin equip manufactur contract kraftwai lead russian produc intel base server agreement concern distribut server china conclus commiss consid restructur plan enabl bull posit satisfactorili notwithstand technolog commerci risk inher relev market commiss consid return viabil suffici guarante avoid undu distort competit point guidelin order authoris commiss restructur aid fulfil condit measur mitig advers effect aid competitor point franc bull market share area servic server small area server relev geograph market consid worldwid europ wide server market commun fifteen bull held market share order segment medium high end server bull retain posit evalu approxim main competitor ibm hp compaq sun fujitsu high end segment market share higher bull wish posit european leader intel bit architectur base solut open sourc softwar target market market intel bit architectur base server estim usd billion account server market compar area servic evid suggest relev geograph market consid europ wide exist region nation market rule servic market commun fifteen bull held market share approxim bull refocus infrastructur servic specif experienc strong reduct turnov servic studi date septemb publish gartner institut bull number competitor world market servic occupi place european market market highli competit circumst made illustr authoris commiss merger oper competitor bull hp compaq cap gemini transiciel ato origin sema ground merger affect competit market servic compani presenc stronger geograph area notabl franc competit remain strong includ level geograph area segment server market europ bull continu exist stimul competit market segment ibm posit preponder segment high transact intens system bull offer altern ibm custom easili migrat solut propos sun hp wintel bank insur compani social servic social secur organis show type custom wish bull offer maintain market concern highli specif nich market bull continu exist impact competit high end server segment commiss take account fact bull strategi gear open sourc major competitor time partner develop project competitor spoke distort competit procedur open extern growth oper plan acquisit quot grei matter quot common practic sector bull consid major purchas fly face restructur plan strategi pose problem integr bull sold substanti asset product segment sold busi involv autom teller machin payment termin smart card larg part busi involv middlewar softwar servic market dispos commerci network franc itali sell integri divis steria restructur plan refocus core activ limit aid neg impact competit member state context import strategi provid restructur plan implement light commiss consid undu distort competit avoid bull posit relev market combin complianc restructur plan refocus carri render quid pro quo aid limit minimum point guidelin order aid authoris condit fulfil amount intens aid limit strict minimum need enabl restructur undertaken light exist financi resourc compani sharehold busi group belong aid recipi make signific contribut restructur plan resourc event demonstr commiss aid purpos restor firm viabil enabl recipi implement restructur plan expand product capac contribut recipi sharehold substanti decemb bull contribut eur million restructur sale core busi asset half addit reserv restructur measur eur million free cash decemb sharehold exist contribut recapitalis tune eur million substanti contribut fact subscript investor capit stem partli compani partnership bull franc télécom nec custom debeka senior manag bull group detract find commiss account capit contribut time exercis share warrant tune eur million convert bond holder oblig choos option solvenc liquid ratio payment aid view aid debt level compar competitor restor financi health make obtain bank guarante current activ bull continu recours extern short term financ base securitis asset tune eur million view risk inher market bull nich player strategi financi institut prepar grant fresh credit line aggress activ link restructur process french author aid tabl partner agre invest convert bond holder agre exchang claim secur main altern propos american invest fund altern reject french author explain commiss satisfact led aid fund propos larger capit inject eur million propos group investor eur million guarante provid convert bond holder cover differ conclus commiss consid aid provid compani surplu cash aggress market distort activ link restructur process time time principl order prevent firm unfairli assist point guidelin state restructur aid grant compani concern receiv restructur aid past year elaps restructur period end commiss restructur aid except unforese circumst compani respons aid notifi present case paid decemb earliest french state grant bull restructur aid approv commiss end restructur plan question concern period last end decis ec commiss approv rescu aid recit refer date decemb date restructur aid grant incorrect point year period elaps present case time time principl appli absolut court justic held admittedli framework ecsc treati hold true framework ec treati purpos provis aid grant commiss power meet unforeseen situat take account chang natur market condit indiscrimin applic time time principl excess restrict categori aid capabl regard commiss examin case project restructur aid order attain treati object similarli commiss principl base exclus exist earlier decis order prohibit subsequ aid recipi background guidelin provid possibl derog time time principl except unforese circumst compani respons respect point crisi inform commun technolog sector except unforese scale segment technolog relat internet telecommun except unforese fault bull consider account present case high speed technolog develop relev sector stress context bull french state scrupul adher earlier restructur plan notabl privatis partnership nec franc télécom sale asset propos independ expert support commiss plan foreseen current difficulti financi difficulti time larg link divis subsidiari sold restructur plan notabl zenith data system microcomput sector oss divis restructur bull place compani adapt environ downsiz compani workforc reflect radic chang shrank current difficulti recit differ natur led restructur present case philosophi time time principl prevent firm unfairli assist respect state prop bull artifici fact difficulti recur natur contrari aid decis relat intend deal difficulti natur ad year period elaps conclus circumst present case commiss consid time time criterion bar notifi aid authoris quot deggendorf quot principl judgment court justic deggendorf commiss examin compat aid relev factor account includ cumul effect aid aid repaid present case bull dispos rescu aid authoris subject reimburs bull june latest french author notifi aid paid rescu aid reimburs quot deggendorf quot principl respect commiss ensur case implement restructur plan commun accord point guidelin restructur plan commun commiss explain ad implement full monitor report accord point guidelin annual report commun commiss vi conclus commiss consid restructur aid bull notifi franc declar compat common market provid commit undertaken franc condit impos fulfil adopt decis articl state aid franc plan implement bull consist eur million payment coupl fortun claus compat common market subject condit laid articl articl bull restructur plan commun commiss franc implement full aid refer articl paid rescu aid approv decis ec reimburs paid decemb earliest franc submit commiss annual report implement restructur plan period end articl franc inform commiss month notif decis measur compli articl decis address french republ brussel decemb commiss neeli kroe member commiss oj oj case regist number footnot http www bull oj detail restructur plan decis ec oj version guidelin publish recent oj accord point version aid measur present case examin light criteria forc measur notifi light guidelin equiti capit neg amount minu eur million end loss eur million eur million eur million judgment court justic case textilwerk deggendorf gmbh commiss european commun feder republ germani ecr forrest quot market overview exploit open sourc europ quot clipper group navig quot bull transit gco open system novascal rescu quot idc quot vendor strategi bull fill novascal line target commerci high perform comput hpc custom quot april idc conclud quot bull introduct novascal server enhanc approach high perform comput market market previous address won reason number refer custom sector year addit microsoft window server oper system sql server isv softwar oracl sap bea match expect growth demand high end commerci applic recov european market quot footnot commiss decis januari declar concentr compat common market case iv hp compaq basi council regul eec oj commiss decis novemb declar concentr compat common market case iv cap gemini transiciel basi council regul eec oj commiss decis novemb declar concentr compat common market case iv ato origin sema group basi council regul eec oj amount includ advanc grant state end decemb resourc bull gener advanc footnot judgment court novemb case wirtschaftsvereinigung stahl thyssen stahl ag preussag stahl ag hoogoven staal bv hoogoven groep bv commiss european commun ecr paragraph opinion mr advoc gener jacob case commiss council paragraph report footnot