6/2, 5:24 PM (Source: TeleTrader)
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EU to restrain foreign rivals' takeovers inside bloc

The European Commission is reportedly working on a proposal that will suggest new possibilities for checking the activities of foreign companies that are operating or seeking to operate on the European market. The white paper, which has not been ready yet, asks for powers to potentially block takeovers of European companies by foreign rivals.

European Council president Charles Michel together with European Commission President Ursula von der Leyen, intends to hold a summit with China’s prime minister Li Keqiang in June.

According to the Financial Times, a summary of a white paper says "there is an increasing number of incidences in which foreign subsidies appear to have facilitated the acquisition of EU undertakings or have distorted the pricing policy of their beneficiaries. EU policy tools, however, do not address all possible distortive effects of foreign subsidies . . . This white paper, therefore, calls for new tools to address those challenges and to ensure a level playing field in the internal market."

Breaking the News / TF