Three countries in the EU want to have the ability to block foreign investment.

Italy, France and Germany have asked the EUROPEAN commission to strengthen the existing rules allow EU states to block foreign takeovers of european companies, reports Reuters with reference to the Italian newspapers Il Sole 24 Ore and La Stampa.

According to the letter, that the papers taken note of the mention of the countries of the EU the right to ban or impose requirements on prospective buyers ”who work according to rules that do not follow the market and does not respect the rules of reciprocity for the acquisition”.

”It is not a form of protectionism, rather a chance to monitor activities that are not compatible with the european rules,” said the Italian industry, Carlo Calenda to La Stampa, according to Reuters.

At a summit in June, EUROPEAN leaders agreed to give the commission the mandate to put forward proposals to ”analyze the investment from the third country. Among others, Germany, France and Italy have backed the idea to allow the commission to block chinese investment.

The discussion has not at least applied to chinese acquisitions.

Tradingportalen/Agency Directly.
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