Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Calais: a no-man's land for migrants

Read more

THE DEBATE

Macron on migration: Humanism or closed-border policy?

Read more

FOCUS

Strict controls behind Denmark's generous unemployment benefits

Read more

ENCORE!

Remembering Cranberries star Dolores O'Riordan

Read more

IN THE PAPERS

Irony? Lebanon bans Steven Spielberg's film about censorship

Read more

THE DEBATE

Tunisia's revolutionary fire: Fresh protests, seven years after Arab Spring

Read more

EYE ON AFRICA

Case dismissed against French troops accused of child rape in Central African Republic

Read more

BUSINESS DAILY

Spain set to overtake US in tourism rankings

Read more

MEDIAWATCH

#MeToo and mixed messages

Read more

EU demands extra effort in Bayer-Monsanto takeover: source

© AFP/File | The $66 billion (56-billion-euro) deal between Monsanto and Bayer would create the world's largest integrated pesticides and seeds company

BRUSSELS (AFP) - 

The EU is demanding further concessions in order to approve the proposed buyout of US agri-giant Monsanto by German chemical firm Bayer, a source close to the matter said on Monday.

Brussels launched an in-depth investigation in August into the $66 billion (56-billion-euro) deal, which would create the world's largest integrated pesticides and seeds company.

The European Commission, which serves as the powerful anti-trust regulator for the 28-nation European Union, cited concerns it could reduce competition in key products for farmers.

Brussels is also under pressure by environmentalists who fear that the deal would give too much power to the world's leading manufacturers of GMOs and the controversial weedkiller glyphosate.

The EU late last week lodged a statement of objections cataloguing potential reasons for the EU to block its proposed takeover, indicating more concessions were needed, the source told AFP.

These further concessions would be in addition to the announced sale in October by Bayer of parts of its agrochemical business to German rival BASF.

That deal would see Bayer sell the lion's share of its crop seeds units and its glyphosate herbicide business to BASF for 5.9 billion euros ($7 billion).

The deadline for the merger approval is currently March 5, but sources close to the matter said it could be further delayed.

Both Bayer and the commission refused to comment.

© 2017 AFP