The Commission has studied the Portuguese privatization programme implemented under Law 11/90 of 5 April 1990, which provides for a transparent privatization procedure based as a general rule on public tenders without discriminatory conditions and leading to the selection of the highest bidder. The price at which companies are sold off will be determined by the market on the basis of valuations made by independent consultants. The Commission has decided not to raise any objection to the privatization measures introduced by this Law, with the exception of: - aid which could result from "non-transparent" privatization measures (referred to in Article 6(3)(a) and (b) of Law 11/90 of 5 April) that the Portuguese authorities are obliged to notify to the Commission in accordance with Article 93(3) of the EEC Treaty; - the planned aid under Article 13(3) in respect of which a decision has been taken to initiate proceedings under Article 93(2) of the EEC Treaty in view of the fact that the conditions governing the granting of such aid are in breach of Article 52 of the EEC Treaty. The Commission has requested the Portuguese Government to submit its observations. The other Member States and interested parties will be informed of this decision by means of a notice published in the Official Journal of the European Communities. * * *
