10/05/2001 (Agence Europe) - The German magazine Stern has affirmed, regarding the blocking by Germany of the proposal of directive on public takeover bids (see EUROPE of 9 May, p.13), that Chancellor Schröder is seeking to convince Göran Persson, European Council President, as well as his other EU colleagues, of the need for companies to have better means of defence against hostile bidding. The Chancellor is supported by MEPs in Strasbourg, notes the weekly, pointing out that European CDU member Klaus-Heiner Lehne has already "organised a majority in Parliament" against the proposal of directive. In a press release, Mr Lehne affirms that the "severe obligation of neutrality demanded by the Council and Commission has the result that Alcatel may take over Siemens, but Siemens cannot take over Alcatel, or that the London Stock Exchange may take over the Stockholm Stock Exchange, but not vice versa". "Only a political compromise can save this highly important legislative initiative", Mr Lehne states in his press release.