The Metronet companies, which are a public-private consortium, have been responsible for replacing and upgrading infrastructure on much of the London Underground’s lines since April 2003. However in July 2007, following serious financial difficulties, the companies went into administration. In order to guarantee the continued safety of the London Underground, Transport for London provided emergency funding which had to be notified to the European Commission (Commission) as State aid. On 28 November 2007, the Commission announced that following an investigation it would authorise the rescue aid which it found to be compatible with its Guidelines on State aid for rescuing and restructuring firms in difficulty.
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Rescue aid to Metronet approved
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