(see related)
European Commission Deputy President
Margrethe Vestager said Monday many champion businesses had been
born at European level through mergers approved during her ten
years in Brussels,
after Italian Economy Minister Giancarlo Giorgetti said the
European executive is blocking the proposed acquisition by
Lufthansa of joint control of ITA Airways.
"If you go back over the history of merger approvals in my ten
years" at the European Commission, "you will see that many big
companies have been born through mergers, and this happens
because very often it is possible to approve a merger while
preserving competition", Vestager said.
On Saturday Giorgetti blasted the EC for allegedly preventing
the creation of a European colossus wit ITA.
"We have an airline called Ita, it was called Alitalia. We said:
'Let's build a European champion that can compete with the
international giants'. For ten months we have been fighting with
Europe, which does not allow us to do this," said the minister.
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