World News

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

(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.”

(Reporting by Kanishka Singh in Bengaluru; Editing by Alison Williams)

tagreuters.com2020binary_LYNXNPEG3B0KL-BASEIMAGE