A British government committee acting on the initiative of the British Liberal Democrat Business Secretary Vince Cable has drawn up stricter rules for protecting British businesses against foreign takeovers. But such protectionism will harm both Britain and the continent, writes the left-liberal daily Süddeutsche Zeitung: "There is ... no proof that takeovers of British firms by foreign companies must lead to job losses. On the contrary, many investors have given ailing businesses a new lease on life. The British-produced Mini is a sales hit for the German company BMW. The traditional car brand Jaguar, which like Land Rover has been taken over by the Indian firm Tata, is now increasing its production capacities. Britain should not toss its reputation as an investor-friendly country to the wind. Not only national interests but also the interests of Europe are at stake here. While on the continent it's primarily the French and the Spanish that tend to take a more protectionist attitude to foreign takeovers, the British should remain true to their liberal tradition. Europe needs the free market. This is also the best guideline for a more composed discussion of mergers and acquisitions here in Germany." (02/11/2010)
» more information (external link, German)
More from the press review on the subject » Corporations, » Economic Policy, » Germany, » France, » United Kingdom, » Europe
All available articles from » Andreas Oldag