Coronavirus | Protect firms from takeover, says Rahul Gandhi

https://www.thehindu.com/business/Economy/govt-must-not-allow-foreign-interests-to-take-control-of-indian-corporates-during-covid-19-crisis-rahul/article31323784.ece

Former Congress president Rahul Gandhi on Sunday asked the government to ensure that Indian companies did not face any hostile takeover bid by foreign companies during the COVID-19 pandemic.

“The massive economic slowdown has weakened many Indian corporates making them attractive targets for takeovers,” he wrote on Twitter. “The Govt must not allow foreign interests to take control of any Indian corporate at this time of national crisis,” he said.

His comments came days after reports suggested that Chinese investors were scouting for shares in distressed European companies.

Last week, Italy announced changes to its foreign investment policy and protected its banking, insurance and healthcare sectors from hostile takeover by foreign companies. Spain, too, has made it mandatory for its companies to seek government approval if any foreign company wants to pick up over 10% stake in them.

You have reached your limit for free articles this month.

Register to The Hindu for free and get unlimited access for 30 days.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Not convinced? Know why you should pay for news.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Health Ministry Urges States to Seek Services of ENT Specialists & Resident Doctors to Fight Covid-19

https://www.news18.com/news/india/health-ministry-urges-states-to-seek-services-of-ent-specialists-resident-doctors-to-fight-covid-19-2574283.html