Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and US companies, the head of shipping company Maersk warned in an interview.
“Is it really a good idea that we don’t allow the creation of a European global champion? In doing so, we risk being outperformed by a Chinese company, over which the European Union has no influence,” Maersk CEO Soren Skou told Danish business daily Finans. A Maersk spokeswoman confirmed his comments to Reuters.
Skou is a member of the European Round Table for Industry, a lobby group of 55 CEOs and chairs of large European companies. Last month, the group urged the EU to develop a new strategy to enhance global competitiveness.
The calls came after Brussels last year blocked a merger of the rail divisions of Siemens and Alstom.
The collapse of the deal prompted Germany and France to call for an overhaul of EU competition policy to better meet global challenges.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI