Press Release: Free movement of capital: Commission closes case against Portugal over privatisation law

The European Commission has decided to close infringement procedures against Portugal for its failure to comply with a Court of Justice ruling of 4 June 2002. The ruling had found the procedure for authorising foreign investment in privatised companies to be incompatible with the provisions of the EC Treaty on the free movement of capital (Article 56). This decision follows the notification by Portugal of additional measures taken on 4 February 2004 to ensure compliance with the Court ruling.