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Sarkozy recommends international takeover protection

How apt that President Sarkozy of France has suggested the idea of protecting European companies from non-European takeovers at a time when state owned French outfits are mopping up utility companies all across Europe. This from a man who now presides over the most protected business sector, i.e. France, in the world where even now some takeovers are banned under French law, in direct contradiction of current European laws.

While the idea of protecting European companies from being cherry picked by overseas companies is a good idea in principle, in practice it is just not workable as other countries would simply pull up the draw bridge and introduce their own measures. The free market would be dead, companies would be limited in their growth potential for the future and we would have taken a rather large step backwards,

However, there are many people in favour of such protection of vital companies such as the utilities which are central to local economies and the smooth running of countries. Even if there is an argument for this limited protection this would actually fly in the face of French company moves over the last few years so it highly unlikely to be seriously considered.

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