The European Parliament and the Member States reached today a provisional agreement on new rules to make it easier for companies to merge, divide or move within the Single Market, while providing for strong safeguards. These rules will allow companies to be more competitive and to easily expand across the EU...
They include strong safeguards for employees, minority shareholders and creditors, and ensure that these cross-border operations cannot be misused for fraudulent or abusive purposes. First Vice-President Frans Timmermans and Commissioner for Justice, Consumers and Gender Equality, Věra Jourová added: "Our EU Single Market offers a lot of opportunities for companies to move and grow. However, so far companies have not been able to make the most of them in practice. The new rules on cross-border mobility will provide clear procedures for companies, which will cut costs and save time. The entrepreneurs will have the choice of where to do business and how to grow or re-organise their businesses. At the same time, the new rules will put in place strong safeguards to protect employees' rights and, for the first time, to prevent operations done for fraudulent or abusive purposes.” The full statement can be found here.
