Brussels, 08/09/2014 (Agence Europe) - The European Commission is ready to reopen the legislative framework for cross-border mergers and divisions. The Commission would like to know more about this question from stakeholders and opened a public consultation on this subject on Monday 8 September, which will be accessible until 1 December.
The Commission is concerned about problems relating to implementation of the rules on cross-border mergers and how they work in practice (Directive 2005/56/EC). It also notes that Directive 82/891/EEC on company divisions does not cover cross-border aspects.
Through the public consultation, the Commission is subsequently asking stakeholders about the barriers hampering cross-border operations and what legislative modifications would be needed, as well at what could help prevent costs being incurred by carrying out EU level action. On the basis of the answers obtained, the Commission will decide the best approach that should be adopted to improve the legal framework. (MD)