The European Commission decided on Thursday (24 November) to take Germany to the top EU court for failing to scrap a law that protects domestic automaker Volkswagen from takeover bids.
According to an AFP report, the EU competition watchdog said it would ask the court to impose fines on Germany for every day that it fails to cancel the law, which gives Lower Saxony the power to block bids even though it is a minority shareholder.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Just Auto Excellence Awards - Have you nominated?
Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!
Nominate Now
