To quote this resource: S. Sebaa, “Does European merger regulation need to be reformed to allow European industry to compete on a global level through the emergence of European champions?”, Competition Forum –Resources, 2022, n°0009, https://competition-forum.com.
Abstract: Two can go farther. This is a motto that drives many companies that plan to compete on a global level. As the market continues to globalize, European companies are facing tough competition from their American and Chinese competitors. Faced with this new competitive dimension, the 2004/139 regulation is criticized. Considered too rigid and severe, its objectives outdated and its methods too short-termist, the merger regulation would not allow the implementation of an effective European industrial policy to support the emergence of real European champions.
Even though the EC is aware of these criticisms, the Alstom Siemens merger prohibition shows that it remains attached to the purpose of competition law, i.e. the guarantee of a free and undistorted market.
Political, economic and legal opinions and issues are therefore crossing as to whether merger law should be reformed to allow the emergence of European champions that can compete on equal ground with the new American and Chinese leaders.