Germany's Lower Saxony says VW law safe

Newswire

FRANKFURT, Nov 28 (Reuters) - The German State of Lower Saxony said on Friday the law that protects carmaker Volkswagen AG from a takeover was safe after European governments backed weakened rules for cross-border takeovers. "The EU member states may keep their defence mechanisms against hostile takeovers if they want to," said Lower Saxony premier Christian Wulff in Hanover. He added that this applied to the so-called VW Law that had been criticised by the European Commission. The VW ...

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