MOTION FOR A RESOLUTION on protecting our economy against foreign takeovers

B9‑0340/2020

Motion for a European Parliament resolution on protecting our economy against foreign takeovers

The European Parliament,

– having regard to Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 on establishing a framework for the screening of foreign direct investments into the Union[1],

– having regard to the Commission white paper of 17 June 2020 on levelling the playing field as regards foreign subsidies (COM(2020)0253),

– having regard to Rule 143 of its Rules of Procedure,

A. whereas the coronavirus crisis has put many European companies in a vulnerable situation in the face of financial difficulties; whereas the socio-economic consequences of the pandemic in non-market economy countries will be less than those in EU Member States[2];

B. having regard to the outcome of the World Trade Organization dispute settlement case opposing China to the EU regarding market economy treatment and anti-dumping;

C. whereas examples of foreign takeovers in Africa reveal a geopolitical strategy dominated by infrastructure networks, creating an artificial shortage of certain raw materials and forcing countries into a detrimental dependence on certain third countries;

1. Calls on the Commission to encourage Member States to ban aggressive takeovers in the EU market by third-country state-owned or state-subsidised companies, notably with regard to strategic sectors;

2. Instructs its President to forward this resolution to the Commission.