(see related) European Commission Deputy President Margrethe Vestager said Monday many champion businesses had been born at European level through mergers approved during her ten years in Brussels, after Italian Economy Minister Giancarlo Giorgetti said the European executive is blocking the proposed acquisition by Lufthansa of joint control of ITA Airways.
"If you go back over the history of merger approvals in my ten years" at the European Commission, "you will see that many big companies have been born through mergers, and this happens because very often it is possible to approve a merger while preserving competition", Vestager said.
On Saturday Giorgetti blasted the EC for allegedly preventing the creation of a European colossus wit ITA.
"We have an airline called Ita, it was called Alitalia. We said: 'Let's build a European champion that can compete with the international giants'. For ten months we have been fighting withEurope, which does not allow us to do this," said the minister.
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