Finnish Kone is buying its German competitor TK Elevator and becoming the world’s largest elevator company. The deal is now being evaluated by the competition authorities. The merger is expected to take place in 2027 at the earliest.
It has been said that the EU is changing its attitude towards big deals, through which globally leading companies could be born in Europe.
Vice President of the Commission Henna Virkkunen says in Kauppalehti’s Talousamau that without taking a position on Kone’s transaction, the guidelines related to company mergers are currently being updated.
“These current ones [ohjeistukset] are from twenty years ago. And it is of course from the time when the European internal market was being built,” says Virkkunen.
“Now when we think about the global situation, where we are and what kind of companies are needed in Europe so that we can compete internationally, compete globally, then of course we are in a different time now,” says Virkkunen.
“The update of these unification guidelines at the European level is also currently underway.”
On Friday, the financial morning also discussed the result of Mandatum and the fact that buildings are now being demolished at an accelerating pace in Finland. Watch the full broadcast below.