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EU Needs Watchdog to Study Foreign Takeovers, Handelsblatt Says

By Andreas Cremer

The European Union may need to set up a watchdog to study foreign takeover bids to help protect its industrial companies against acquisitions, Handelsblatt reported, citing European Industry Commissioner Antonio Tajani.

Chinese companies are acquiring a growing number of European businesses “with key technologies in important areas,” Tajani told the newspaper in an interview published today. This implies “a political strategy that Europe must respond to politically,” Tajani was quoted as saying.

“It’s my proposal to examine closely how the Committee of Foreign Investments in the U.S. does its work,” Tajani told Handelsblatt. “We have to protect our knowledge.”

To contact the reporter on this story: Andreas Cremer in Dusseldorf, Germany viaacremer@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Source: bloomberg.com

Short URL: http://www.businessworld-magazine.com/?p=456

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