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People familiar with the matter in Brussels said Tuesday that German Finance Minister Hans Eichel and the state secretary to the Chancellery, Hans Martin Bury, had told EU Internal Market Commissioner Frits Bolkestein in no uncertain terms that the German government was not interested right now in creating a more liberal legal framework for company takeovers.
These people said that the ministers had indicated that they would like to see the issue postponed until after the country's general elections in September. But Bolkestein had refused to comply, saying he would present his draft guidelines in May as planned.
See full Handelsblatt article.