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EU sounds warning over protectionism

The European Union's competition commissioner, Neelie Kroes, has warnedshe will take action if there is proof of any protectionism in the saleof General Motors Co.’s European unit Opel.

The European Union's competition commissioner, Neelie Kroes, has warned she will take action if there is proof of any protectionism in the sale of General Motors Co.’s European unit Opel.

The Belgian government has already said it wants the EU Commission to investigate the deal amid concern that Germany allegedly sought to protect its own plants at the cost of others.

Under the agreement, the plant in Antwerp will likely be wound down while all the German plants would survive.

”State support should not be subject to noncommercial conditions such as the location of investments and restructuring measures.”

Kroes's remarks were published in today's edition of De Tijd.

GM announced Thursday that Opel would be sold to Canadian auto-parts maker Magna and Russia's Sberbank, a solution Germany had pushed for.

 
 
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