Level Playing-Field A Mirage

Level Playing-Field: A Mirage D N Ghosh How can the so-called Bombay group hope to derive any advantages from what is vaguely referred Was a 'level playing-field'. What these businessmen are asking for are certain financial facilities to acquire and maintain undisputed control of what they claim to be their own corporate entities. They seem to feel that they would be safe with majority control and could keep off hostile take-overs by foreign investors, this is ah illusion, however THE Volvo-Renault merger deal has touched soft spots in the Swedish psyche. The Volvo board considers this link as strategic to the long-term survival of its car manufacturing activities. This business decision is also perfectly in tune with the Swedish overtures to join the European Community. Volvo regards the decision, as a spokesman of the company puts it, "normal, natural and fair" Nonetheless several questions have been raised. As Volvo has always been a symbol of national pride, many Swedes would not like it to be tarnished. Volvo shareholders too feel uncomfortable that the French government would step in as the owner of the merged company. Even a respected conservative newspaper, which is normally against state intervention, has called upon the prime minister to stop the deal. Just as Renault is important to France, so is Volvo for Sweden