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EU Competition Chief Pushes Back on Calls to Relax M&A Rules

By  |  April 20, 2026

As the European Union prepares for a major review of its merger guidelines, divisions are emerging within its leadership over how far reforms should go in reshaping competition policy.

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    The European Commission is facing mounting pressure to relax merger regulations in order to foster the creation of large European corporations capable of competing on a global scale. The proposed changes would mark the most significant overhaul of the bloc’s competition framework in roughly two decades, with Commission President Ursula von der Leyen advocating for measures aimed at enabling so-called European champions, according to Bloomberg.

    However, the EU’s competition chief Teresa Ribera has firmly rejected the idea that the review should lead to weaker safeguards on corporate consolidation. In an interview, she made clear that loosening oversight is not necessary. “It is not necessary to relax them,” she said, referring to the merger rules. “If relaxing means tolerating abuses, the answer is obviously no,” according to Bloomberg.

    Ribera also cautioned against interpreting the push for larger European firms as a justification for deregulation. “If anyone thought that this call for the creation of champions was an argument to deregulate, dismantle or reduce safeguards, they are mistaken,” she said in Barcelona. “That cannot be and it makes no sense; we would be killing the goose that lays the golden eggs,” per a Bloomberg report.

    Read more: AI in M&A: The Shift from Competitive Advantage to Governance Imperative

    Her remarks underscore a broader debate within the Commission about balancing competitiveness with consumer protection. While von der Leyen, who comes from the center-right political spectrum, has increasingly engaged with business concerns about regulation and climate policies, Ribera—one of several left-leaning figures in the Commission—has emphasized the importance of maintaining strong competition rules.

    She warned that reducing competition in pursuit of scale could ultimately harm innovation and consumers. “Having one or two operators in a market where competition enables innovation, leaps forward, price reductions, benefits for consumers—just to give the appearance of having a single European champion… First, it is bad for consumers, but second, it will limit the incentive to keep competing, investing, innovating,” she said.

    The debate comes as the EU navigates broader economic and geopolitical challenges. The bloc is also weighing measures to optimize jet fuel distribution amid disruptions in energy flows, considering financial support for Ukraine, and preparing contingency plans tied to its mutual-assistance mechanisms, according to Bloomberg. Meanwhile, concerns over energy security have prompted Germany’s leadership to consider convening its national security council.

    Source: Bloomberg