FT: Takeover Directive back with Brussels

26 February 2002

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The German government yesterday left the initiative for reviving the European Union's stalled takeover directive firmly with the European Commission after a meeting between Hans Eichel, finance minister, and Frits Bolkestein, the internal market commissioner, failed to come up with any new ideas.

Stung by criticism that the EU's years long attempt to establish a takeover code had foundered last year on German opposition, officials said Berlin could not be expected to respond until Mr Bolkestein put forward new proposals.

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