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EU plans new case against Germany for VW law

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EU plans new case against Germany for VW law
Photo: DPA
17:02 CEST+02:00
The European Commission will bring new court action against Germany in a long-running stand-off with Berlin over a law shielding Volkswagen from takeovers, a spokeswoman said Tuesday.

EU Internal Market Commissioner Charlie McCreevy still has to present a formal proposal to his commission colleagues, after which a court date will be arranged, the spokeswoman said.

“Right now there is no evidence that there will be further compromise,” the spokeswoman told news agency DDP. “The facts are clear. There is no other solution but entry into the European Court of Justice.”

The commission had warned in June that it could return the case to the European Court of Justice if Berlin failed to respond to its concerns that the contested law blocked the free flow of capital in Europe. Last year, the European Union's top court ruled against a law giving the German state of Lower Saxony, which owns 20 percent of Volkswagen's shares, the ability to block company decisions.

Normally a blocking minority is only accorded to entities owning more than 25 percent.

 
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