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General

Comms added to areas to be protected from foreign takeovers

Friday 16 May 2014 | 09:06 CET | News
The French government has passed a decree that gives it the authority to block any takeover of a French company considered to be in the country's strategic interest. While previously only applying to the defence industry, this government veto has been extended to include communications, energy, transport, water supply and public health. Economy minister Arnaud Montebourg has been invoking the principle of 'economic patriotism' to save power and transport conglomerate Alstom from a EUR 12 billion takeover by General Electric, favouring a rival offer from Siemens instead. The EU finance market

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Categories: General
Countries: France
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