The Diplomat.
Yesterday, the Court of Justice of the EU (CJEU) endorsed the fiscal aid granted by Spain to Spanish multinational companies in order to buy foreign companies, such as O2, which was acquired by Telefónica, or Scottish Power, which was acquired by Iberdrola. The sentence cancels the decisions made by the European Commission declaring that aid illegal and responds to the appeal lodged by Autogrill, Banco Santander and Santusa. According to the Court, the selective character of the Spanish regime, “which does not exclude from its advantages –it says- any group of companies”, has not been proven.
