A PYMNTS Company

EU: Juncker rejects criticism of mergers blocks

By  |  February 5, 2019
European Commission President Jean-Claude Juncker said on Tuesday the EU executive was not needlessly blocking corporate mergers, reported Bloomberg.

In a speech to industrialists, Juncker said the Commission had only ever blocked 30 mergers and approved more than 6,000.

“This is a message for those who are saying that the commission is composed of blind, stupid, stubborn technocrats,” Juncker told a conference on Tuesday in Brussels. “We believe in competition as long as it is fair for all. We’ll never play politics or play favorites when it comes to ensuring a level playing field.”

A few hours later, the chief executive officer of Alstom said that the European antitrust regulator would probably block the planned combination, while putting pressure on top officials at the commission to overrule the decision.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.