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EU's Vestager says EU nations should buy stakes to block Chinese takeovers: FT

Published 04/12/2020, 03:44 PM
Updated 04/12/2020, 03:45 PM
© Reuters. Executive Vice-President Margrethe Vestager presents the EU executive's economic response to the coronavirus epidemic, in Brussels, Belgium

(Reuters) - The European Union's competition chief told the Financial Times that member countries should buy stakes in companies to counter the threat of Chinese takeovers, with her comments coming as the EU formulates plans to protect its businesses amid the coronavirus outbreak.

"We don't have any issues of states acting as market participants if need be, if they provide shares in a company, if they want to prevent a takeover of this kind," Margrethe Vestager said in an interview with FT https://on.ft.com/3efpEMp.

"It's very important that one is aware that there is a real risk that businesses that are vulnerable can be the object of a takeover," she added. "The situation now really underlines the need so we work really intensively."

Latest comments

I agree with her 100%
arrogant
Yay! The EU is going down the route of STATE OWNED ENTERPRISES! Well done and here's to your first step to becoming a Communist country
That is not your business, if they choose to be any kind of country. Your business is to live your own life.
hahaha you are so funny and ignorant on so many points. And naive as well !
Joke
China has also suffered and lockdowned for several months. Longer and more complete than we do. So how can it have enough money ? :)
Why let china buy any companies?Why let communists take over your country?
China is still run by the Communist Party, but it has changed some years ago to be a hybrid of socialistic and capitalistic system.
Give me free money like you give to the banks then i buy.
Stop Chinese business licenses in Europe. Also Chinese should not be allowed to buy property in the EU to drive prices up. That's a must regulation that must be addressed.
Other than that, you should also revitalize vikings pirates to the high sea to glorify your failing diginity and wallets.
so govt will buy 51% of all stocks? how does eu know which will be acquired. lol. it is too late to accumulate when it is already out on the street.
Ever heard about etfs? Japan started it first.
 doesn't matter if you're buying etfs or all the components of those etfs, you would need 51% to get a final say on things.
Already suggest it in my previously comments, chk it., It's really a big issue and require serious attention by all countries suffered by covid-19.
Great, finally you people understand invisible hand of market needs government hand to work together, and sometimes you people should listen to Marxism, although you people have been misled by capitalism for too long.
Fight fire with fire. Welcome to the communist European Union
hahaha you are so funny and ignorant on so many points. And naive as well !
Lmao, govrn will pay much less to take over.
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