Press Release: Freedom of establishment and capital movements: Commission scrutinises Greek restrictions on media ownership

The European Commission on 20 July 2005 decided to send Greece an official request for information about the obligation imposed on all media companies to have registered shares held by individuals. It considered that the obligation in question raised problems of compatibility with the provisions of the EC Treaty on the free movement of capital and freedom of establishment. The Commission's request took the form of a letter of formal notice, the first stage in the infringement procedure provided for in Article 226 of the Treaty. Greece is being given two months in which to reply.