An influential member of the European parliament claims that foreign investment figures support European Commission proposals for new takeover rules.

Chris Huhne, draftsman for the European parliament's economic and monetary affairs committee on the proposals, said figures provided by the Commission show that when it comes to foreign investment, Germany and France are dragging their heels. Foreign-owned companies in Germany and France account for about 12% of their gross domestic products. This is only half the level of the UK, which Huhne says is the most foreign-friendly of the big EU member states.