UK takes foreign takeovers of 'prime assets' in stride

The progressive daily observes that Monday's takeover of industrial gases firm BOC by Germany's Linde group is the latest in a wave of foreign buyouts of "prime British assets". "The fascinating thing is that there is hardly any national disquiet. What a contrast with other parts of Europe, where there is an outburst of economic nationalism to protect 'national champions', mainly in countries that are proactive in buying up British utilities. In this respect Britain is more 'European' in accepting a free market than other EU members who are battening down the hatches. ... Globalised companies take decisions on profit grounds, not sentiment and blocking takeovers on patriotic grounds is not a logical response. What is intolerable is the situation developing in Europe, where economic nationalism is a one-way street."

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