EU countries, lawmakers agree on rules to curb subsidised foreign companies

EU countries and EU lawmakers on Thursday agreed on rules to curb acquisitions or bids for public contracts by subsidised foreign companies in a bid to ensure a level playing field, the European Parliament said.

The European Commission presented its proposals for the new takeover rules last year in a bid to stave off what it deems unfair competition from countries such as China, underlining a more protectionist approach by the 27-member bloc.