EU competition commissioner Mario Monti has proposed that existing competition laws be overhauled and that major jurisdictions work on the same basis to create a more explicit law.
A spokeswoman from the commission said: ‘What we are doing is launching a debate on all aspects of merger control and all the procedures to do with merger regulations.’
The differences in merger laws were highlighted last summer when the EU blocked the General Electric/Honeywell merger after the US had approved it.
The US checks whether a merger would cause a ‘significant lessening of competition’ while the EU looks at ‘market dominance’.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements