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Europe Daily Bulletin No. 8064

6 October 2001
Contents Publication in full By article 26 / 35
GENERAL NEWS / (eu) eu/competition
Despite pressure from Chirac and Fabius, Mario Monti continues to oppose Schneider/Legrand merger

Helsinki, 05/10/2001 (Agence Europe) - Commissioner Mario Monti said in Helsinki on Friday that he would be asking his colleagues to issue a negative opinion on 10 October on the Schneider/Legrand merger (see EUROPE of 5 October, p.14). This would have serious repercussions on Schneider, which acquired 98% of the Legrand in August through an exchange offer. It would be disastrous for Schneider to resell its stake since it would make it easy prey to a potential hostile takeover bid, and it...

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