01/10/2008
Joint statement of the owners and Managing Board of WestLB AG
decision of the European Commission to open formal investigation proceedings
As expected, the European Commission today announced its decision to open formal investigation proceedings against WestLB in connection with the state aid case.
Within the framework of the proceedings, the owners and Managing Board of the Bank will continue their constructive and ongoing dialogue with the Commission regarding the restructuring plan submitted at the beginning of August.
In the discussions with the Commission, we are confident that – also in the light of the current situation in the financial markets - we will reach a comprehensive solution for WestLB which also ensures the future viability of the Bank.