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Image header Agence Europe
Europe Daily Bulletin No. 8063
Contents Publication in full By article 23 / 39
GENERAL NEWS / (eu) eu/competition

Monti is opposed to Schneider/Legrand merger

Brussels, 04/10/2001 (Agence Europe) - Commissioner Mario Monti said on Tuesday in Rome that he was planning to suggest that the Commission should not accept the merger between the French groups Schneider and Legrand, a merger which last Friday's advisory committee had already spoken against. A vote which, we recall, was won by just one vote. The Commission should give its verdict on 10 October (see EUROPE of 29 September, p.14). Mr Monti declared, moreover, that he did not have any objection to the non-aggression pact envisaged by the insurance groups Axa, Generali and Allianz, whereby the three partners undertake not to carry out a "raid" on territories where one of the two at least is present, a pact currently being scrutinised by the Commission's relevant services. "The responses provided are still being examined, but at this stage it does not seem that this poses problems from the point of view of competition rules", said the Commissioner.

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