May 8, 2020 / 5:42 PM / a month ago

EU governments allowed to take stakes in virus-hit firms

BRUSSELS, May 8 (Reuters) - The European Commission on Friday adopted rules allowing EU governments to help virus-hit companies by acquiring stakes in the firms, which will be subjected to a ban on dividends, share buybacks, bonuses and acquisitions.

An EU executive also said EU countries could grant subordinated loans on favourable terms to companies affected by COVID-19.

Reporting by Foo Yun Chee Editing by Chris Reese

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