BREAKING NEWS

BREAKING NEWS

Bayer dismisses antitrust concerns about digital farming

Now Reading:

Bayer dismisses antitrust concerns about digital farming

Text size Aa Aa

FRANKFURT (Reuters) – Bayer <BAYGn.DE> said it was unable to propose the sale of any assets to allay the European Commission’s concerns about potential dominance in agricultural markets that could stem from the use of digital farm management tools. The EU Commission last month started an in-depth investigation into the German group’s planned $66 billion (£48.89 billion) takeover of Monsanto <MON.N>. Among its concerns, the regulator took issue with Bayer’s plan to create combined offerings of seeds and pesticides with the help of new digital farming tools, such as connected sensors, software and precision machines. “I fail to see what kind of a remedy there would be in this space. It’s extremely hypothetical in terms of where the overlap actually is,” the head of Bayer’s Crop Science division, Liam Condon, told Reuters on Tuesday, following a press conference on the business.

(Reporting by Ludwig Burger)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.