EXCLUSIVE-EU countries, lawmakers set to agree on plan to curb state-backed foreign buyers

EU countries and EU lawmakers are likely to agree on the European Commission's proposal to curb foreign subsidised companies' takeover of EU businesses with at least 500 million euros ($520 million) in turnover, a person familiar with the matter said on Thursday.

EU countries and EU lawmakers are likely to agree on the European Commission's proposal to curb foreign subsidised companies' takeover of EU businesses with at least 500 million euros ($520 million) in turnover, a person familiar with the matter said on Thursday. They are also expected to agree on the EU executive's proposal targeting foreign subsidised companies taking part in public tenders above 250 million euros, the person said.

EU countries and EU lawmakers kicked off negotiations on the Commission's plan at 1300 GMT in Brussels, where the proposal could be tweaked. The EU executive announced its proposal in May last year in a bid to stave off unfair competition from China.

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