Tata-Corus, Vodafone deals good for ties: EU

The European Union (EU) has said the recent big ticket mergers and acquisitions between Indian and European companies, including Tata-Corus and Vodafone-Hutch, would pave the way for greater economic integration between the two economic powers.

"The economies of US and Europe are best integrated in the world and such deals are routine between them. As India and Europe come closer deals like Tata-Corus and Vodafone will become common," David O' Sullivan, Director General for Trade of European Commisson, an executive arm of EU, said.

He said governments have no role to play in these merger and acquisitions and should be left to the shareholders.

Despite the takeover of Arcelor by Mittal Steel becoming an emotional issue in Europe, the will of the shareholders prevailed in the end, Sullivan added.