Juncker rejects gripes that EU blocks useful mergers - Southern Business Review

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Tuesday, February 5, 2019

Juncker rejects gripes that EU blocks useful mergers




FILE PHOTO: European Commission President Jean-Claude Juncker speaks during a plenary session of the EU Parliament in Brussels, Belgium January 30, 2019. REUTERS/Francois Lenoir




BRUSSELS (Reuters) - European Commission President Jean-Claude Juncker said on Tuesday that the EU executive was not needlessly blocking corporate mergers, a comment seemingly aimed at complaints in France and Germany over its expected rejection of a merger between Siemens’ and Alstom’s rail businesses.


In a speech to industrialists, Juncker said the Commission had only ever blocked 30 mergers and approved over 6,0000.


In a tweet, a spokeswoman summed up his message as: “We believe in competition as long as it is fair. We will not play politics when it comes to ensuring a level-playing field.”




Reporting by Alastair Macdonald ; @macdonaldrtr; editing by Philip Blenkinsop