EU regulators are “closely following” Italy’s efforts to stop French dairy company Lactalis from taking control of Parmalat, the Competition Commissioner Joaquin Almunia has said. That is to make sure EU merger rules are not being breached.
Last month, the Rome government passed a special decree allowing the country’s biggest food group to postpone a shareholders’ meeting until June, giving it time to find alternative Italian investors.
“When it comes to cross-border transactions, we see that we must prevent protectionist temptations in the internal market,” he said in the text of a speech at a St Gallen competition forum in Switzerland.
“That is why I am closely following the developments of Lactalis’s acquisition of a stake in Parmalat. We are examining whether the case is reviewable under EU merger control,” Almunia said