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E.U.: Commissioner Almunia takes stand to maintain bargaining power of European Commission

By  |  November 6, 2012
E.U.: Commissioner Almunia takes stand to maintain bargaining power of European Commission

In his speech at the Conference on Competition Policy, Law and Economics, Joaquín Almunia, Commissioner for Competition Policy, made a firm stance against European companies’ attempts to shield themselves from competition through mergers. Additionally, he struck down accusations that the European Commission deliberately attempts to make potential mergers more difficult than necessary. In defense of his statements, Almunia noted that the Commission only blocked 22 mergers that came before them, and approved 4,600, since the body formed in 1990. Almunia stressed the need for the Commission to maintain its power to negotiate with the mega-corporations of the continent, 27 of which made Forbes List of the world’s largest companies.

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