Press Release: Commission regrets rejection of Takeovers Directive by the European Parliament

On 4 July 2001 the European Commission stated that it deeply regretted the rejection by the European Parliament's plenary session (Strasbourg, 4 July 2001) of the proposed Takeovers Directive. The text rejected had previously been agreed by the delegations of the Parliament and the EU's Council of Ministers in a Conciliation Committee meeting in Luxembourg on 6 June 2001 (see MEMO/01/216). The proposed Directive, part of the EU's Financial Services Action Plan, was identified as a top priority by the March 2000 Lisbon European Council as an important step towards making Europe the most competitive economy in the world by 2010.

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