Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

24 January 2007

ECON adopted report on prudential assessment of acquisitions





The EP’s ECON Committee adopted the report of Mr Klinz on the procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of shareholdings in the financial sector.

MEPs voted to extended the allowed time period for the supervisor to conduct the prudential assessment from 30 days as foreseen in the initial proposal of 30 to 47 days, with an additional ten days should there be a request for additional information.

The Committee also 'softened' the clauses referring to the Commission's right to obtain information which could be used to oppose a merger. The report also specifies ways of calculating the level of participation of future acquirers.

The report is planned to be voted in Parliament in March. It is now up to the rapporteur and shadow rapporteurs to negotiate an agreement with the Council before then. ECON chairperson Bérès reminding that the Socialist group has abstained from the final vote.

The dossier will be on the agenda of the ECOFIN Council in April.

Report
Compromise amendments


© European Parliament


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment