France Telecom Under the influence

On the face of it, the cash-strapped French government should rejoice at the European Court of Justice’s decision that France Telecom return between E800m and E1.2bn of illegal tax rebates awarded 10 years ago. But the state has instead aligned itself with the company in its determination to litigate the matter to the max. That France Telecom would try to avoid disbursing the equivalent of 20-to-25% of its net profit may be understandable. That the French state, caught between its roles as share...