E.U. Adviser Shakes Head At Volkswagen Law

Law360, New York (February 13, 2007, 12:00 AM EST) -- A legal adviser to Europe's highest court said Tuesday that Germany could not shield Volkswagen AG, its largest auto maker, from foreign takeovers under a law deemed protectionist by European Union competition regulators.

Damaso Ruiz-Jarabo, the advocate general, said the German government’s so-called “VW law” dissuades those wishing to acquire a significant number of shares in the company, adding that the approach is “too wide and too far removed from reality and is not based on overriding reasons relating to the public interest," Dow Jones reported....
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