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Large investors, such as U.S. wealth manager Blackrock <BKCC.O>
or Norway's sovereign wealth fund, have stakes in numerous
German companies that are partly in competition with each other,
Achim Wambach said in Berlin.
This trend is especially pronounced in sectors such as computer
manufacturing, optical and electronic equipment, as well as
machinery and vehicle construction, he said.
"There is the danger that competition could be impeded," said
Wambach, who is chief of the independent commission that advises
the government on competition policy. There are already initial
indications of distorting effects on competition, he added.
Wambach said Germany's cartel office should take a close look at
drugmaker Bayer's <BAYGn.DE> $66 billion takeover of U.S. seeds
company Monsanto <MON.N>, since Blackrock has holdings in both
companies.
"The cartel office should at least cast an eye on it," he said.
On the whole, however, there was no reason for competition
concerns since the concentration of companies in Germany had
fallen, he added.
In addition, the interrelationship of its 100 biggest companies
had also declined, he said, referring to multiple mandate
holders in supervisory boards and mutual capital shares.
(Reporting by Rene Wagner; Writing by Caroline Copley; Editing
by Tom Heneghan)
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