Would Kone’s giant deal go through with the authorities? The expert smells the change

Europe is trying to boost its competitiveness in many ways.

One side of the issue is how to get more large, industry-leading companies to Europe. It would also mean that larger mergers would be allowed in Europe.

EU competition authorities have blocked or watered down many business deals over the years, such as a steel company Outokumpu remember well.

“In many areas, we have a very fragmented market and large leading companies are missing from Europe. It is worth looking at mergers not only in the European context, but also from the point of view that we have open global competition in which companies have to succeed”, opines the head of EU affairs of the Confederation of Finnish Business Lotta Nymann-Lindegren In the live broadcast of Talousam.

The commission has already to some extent changed its way of thinking in the matter, he thought.

Finnish companies, for example Kone comes out on top of media information by TK Elevator. The giant transaction would create the world’s largest elevator company, but the competition authorities are thought to be blocking a possible arrangement.

If such a deal comes to the table, should the EU show the thumbs up?

“I’m not going to instruct the competition authorities, but there is no doubt that these issues should now be looked at from a broader perspective than before.”

Watch the interview and Talousaamu broadcast in its entirety from here.