Antitrust chief Joaquín Almunia wants to expand how far Europe’s regulatory watchdogs can scrutinize companies that hold significant but non-controlling interest in other firms.
This bit of news comes from a government report that Mr. Almunia, European Commission vice president in charge of competition, recently released to the public.
“The experience of the past 10 years has shown there is still leeway to improve merger control in the European Union,” he said. “Regulators at the E.U. level should work with a modern set of tools to protect businesses and consumers from mergers that could interfere with competition.”
Companies can acquire minority stakes in competing businesses and, as a result, influence their performance. In effect, that could restrict competition in the market.