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EU Antitrust Chief Backs Merger Champions

Financial Times Companies •
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EU competition director-general Anthony Whelan said antitrust rules and industrial policy can reinforce each other as Europe seeks to revive competitiveness. In an interview with Barbara Moens, Whelan rejected the idea that the two are inherently at odds, comparing the perceived rivalry to the farmer and cowman in "Oklahoma!". He signaled greater willingness to approve large corporate mergers to "enable the creation of champions, including European champions," citing updated Commission guidelines emphasizing scale and resilience.

Whelan highlighted state aid for research, innovation, and energy markets as vital for industrial recovery. He also noted competition policy's role in addressing excessive dependencies on China in renewable energy equipment, referencing the foreign subsidy regulation (FSR) that blocks foreign-subsidized firms from EU procurement and mergers.

EU competition commissioner Teresa Ribera echoed this view at an OECD conference in Paris, stating Brussels does not "need to choose between competition and competitiveness" but needs "competition that improves competitiveness." The stance comes amid pressure from businesses and EU leaders to help European firms scale up against American and Chinese rivals.