EU officials are seeking to finalise a plan for public stakes to be taken in key European companies to shield them from the economic fallout of the COVID-19 pandemic, three sources familiar with the matter told Reuters. The European Union is looking to take decisive, unified action to support corporates after plans to help struggling southern states became mired in dispute and led to some politicians questioning the future of the European project. On May 5, after weeks of negotiations, France called for “an equity fund, either to recapitalise or to acquire shares in strategic companies that need capital, especially for those operating in European strategic value chains”, according to a proposal submitted to the EU commission and seen by Reuters. One favoured option is the creation of a central “solvency support” scheme, funded by member states, to direct investments into companies deemed systemically important, according […]