BRUSSELS, June 9 — The European Union will seek tougher checks on foreign state-owned or state-backed companies buying European firms to prevent the use of unfair subsidies, the EU antitrust chief said today, the latest move to increase protection. The bloc’s protectionist trend has accelerated...
European Commissioner Executive Vice-President Margrethe Vestager speaks during a news conference about the Solvency Support Instrument at EU headquarters in Brussels, Belgium May 29, 2020. — Reuters pic
Margrethe Vestager said in an interview foreign companies use subsidies without the European Union’s knowledge or checks. EU governments and the European Parliament will subsequently specify which EU interests could be harmed by foreign subsidies.
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