CELEX: 62008CA0171
Language: en
Date: 2010-07-08 00:00:00
Title: Case C-171/08: Judgment of the Court (First Chamber) of 8 July 2010 — European Commission v Portuguese Republic (Failure of a Member State to fulfil obligations — Articles 56 EC and 43 EC — Free movement of capital — Portuguese State’s ‘golden’ shares in Portugal Telecom SGPS SA — Restrictions on the acquisition of holdings and on the management of a privatised company — State measure)

28.8.2010   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 234/4
            
         Judgment of the Court (First Chamber) of 8 July 2010 — European Commission v Portuguese Republic
   (Case C-171/08) (1)
   
   (Failure of a Member State to fulfil obligations - Articles 56 EC and 43 EC - Free movement of capital - Portuguese State’s ‘golden’ shares in Portugal Telecom SGPS SA - Restrictions on the acquisition of holdings and on the management of a privatised company - State measure)
   2010/C 234/05
   Language of the case: Portuguese
   
      Parties
   
   
      Applicant: European Commission (represented by: E. Montaguti, M. Teles Romão and P. Guerra e Andrade, acting as Agents)
   
      Defendant: Portuguese Republic (represented by: L. Inez Fernandes, acting as Agent, and by M. Gorjão Henriques, advogado)
   
      Re:
   
   Failure of a Member State to fulfil its obligations — Infringement of Articles 43 EC and 56 EC — Special shares (‘golden shares’) held by the Portuguese State in Portugal Telecom S.A.
   
      Operative part of the judgment
   
   The Court:
   
               1.
            
            
               Declares that, by maintaining in Portugal Telecom SGPS SA special rights, such as those provided for in that company’s articles of association for the State and other public sector bodies, allocated in connection with the State’s golden shares in Portugal Telecom SGPS SA, the Portuguese Republic has failed to fulfil its obligations under Article 56 EC;
            
         
               2.
            
            
               Orders the Portuguese Republic to pay the costs.
            
         
      (1)  OJ C 171, 05.07.2008.