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Calls For European Court of Competition
The Confederation of British Industry has called for the appeals process against European Commission decisions on mergers and takeovers to be speeded up. The CBI, which is the UK?s primary business lobby group, has circulated a paper to its members calling for the European Union to have a separate competition court to deal with such cases.
In the paper, the CBI describes mergers and acquisitions as ?essential for the restructuring of EU industries and the reallocation of resources?, and argues that ?if there is a fundamental flaw in the mechanism this can only damage the effectiveness of competition and EU competitiveness?. It cites the UK system as a model, where appeals have been significantly faster since the establishment of the Competition Appeal Tribunal.
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