EU's financial support aims to help vulnerable firms avoid hostile takeovers in key areas such as healthcare, defence and digital technologies among others
The European Commission has proposed setting up a $16.6 billion fund to invest in strategic companies that have been weakened by the Covid-19 crisis.
The new facility could buy stakes in, or offer loans to, strategic companies in sectors such as healthcare, space, defence, digital and green technologies, EU industry commissioner Thierry Breton told a news conference on Friday. The EU financial support would go to companies "that need more capital to continue their expansion," Breton said, adding that it would also allow firms to shun help from unwanted partners.
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