EU antitrust regulators will decide by May 12 on whether to approve Abu Dhabi state oil giant ADNOC’s $17.2bn takeover of German chemicals company Covestro, as part of efforts to reduce oil dependency. The European Commission can clear the deal with or without conditions or open a four-month investigation, potentially under the Foreign Subsidies Regulation. ADNOC’s bid for Covestro awaits confirmation, following a similar case involving UAE telecoms group e&’s acquisition of Czech telecoms company PPF.
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Row breaks out as US diplomat criticises France on antisemitism
France will summon the US ambassador, Charles Kushner, after he criticized the government's response to rising antisemitism in a leaked letter to President Macron, which coincided with the anniversary of the Allied Liberation of Paris. The letter, echoing Israeli concerns, claims antisemitism has surged since the Hamas assault on October 7, while France's foreign ministry refuted the allegations as unacceptable interference in internal affairs. Want More Context? 🔎
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