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Danish company Maersk CEO warns EU antitrust law benefits US, China

Release time: 2020-1-16
Danish shipping company Maersk CEO Soren Skou warned that strict EU enforcement of competition rules has hindered the development of global leading companies needed to compete with Chinese and American companies.
In an interview with the Danish ⎝⎛真人游戏开户注册⎞⎠paper "Financial News", Shi Soren said, "Is it really a good idea that we do not allow the creation of a European global leader? By doing so, we may be overtaken by Chinese companies, and the EU may overtake Chinese companies No influence. "
Soren is a member of the European Industry Roundtable (ERT), a lobbying group comprised of CEOs and chairman of 55 large companies in Europe. Last month, the group urged the EU to develop a new strategy to strengthen global competitiveness.
Last year, the European Commission rejected a merger of German Siemens and French Alstom railways.
Reuters reported on January 15 that the abortion of the merger prompted Germany and France to call for a comprehensive reform of the EU's competition policy to better meet global challenges.
European Commission's High Commissioner for Competition Margrethe Vestager has said that in order to protect competition in the European railway industry, she rejected the merger and rejected the reasons for Siemens and Alstom, saying that the merger was to compete with rivals. Chinese state-owned enterprise CRRC competes in the European market.
"The competition policy should not just protect consumers. It is very important, but if the policy does not allow us to build a European company that adapts to global competition, then it will become a big problem for the EU in the long run," said Schorzen.
"We cannot allow the United States and China to win the global technology race, and at the same time we are spending time discussing some of the issues of the last century's industry," she said.
Reuters reported that in this regard, a spokesman for the European Commission said that EU policy "has not impeded the creation of leading European companies."
The spokeswoman said: "Over the years, the European Commission has approved many large-scale mergers, created European leading companies, or allowed them to grow, such as the acquisition of Opel by Peugeot and the acquisition of Miller by InBev."
She said that Siemens and Alstom are already global leaders in the rail industry and they do not need to merge to compete globally. Mnuchin: U.S.-China second-phase trade agreement will eliminate more tariffs
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