Volkswagen takeover protection law illegal, says EU judge

A German law protecting Volkswagen from hostile takeovers was declared illegal by European judges today.

Volkswagen takeover protection law illegal, says EU judge
Tue, 23 Oct, 2007 - 13:48

A German law protecting Volkswagen from hostile takeovers was declared illegal by European judges today.

The 47-year-old law restricts the free movement of capital and therefore breaches EU rules, said the European Court of Justice in Luxembourg.

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CourtsBusinessHeathrowPlace: LuxembourgPlace: EuropePlace: Lower SaxonyOrganisation: VolkswagenOrganisation: EUOrganisation: European Court of JusticeOrganisation: European CommissionOrganisation: VWOrganisation: Federal Republic of GermanyOrganisation: Porsche
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