
Article 1 
Placed in the context of the declarations made from July 2002, the shareholder loan granted by France to France Télécom in December 2002 in the form of a EUR 9 billion credit line constitutes state aid incompatible with the common market.
Article 2 
The aid referred to in Article 1 does not have to be recovered.
Article 3 
This Decision is addressed to the French Republic.
Done at Brussels, 2 August 2004
For the Commission
Frederik BOLKESTEIN
Member of the Commission