Competition chief attacks new foreign takeover regime

A former top competition watchdog has hit out at an “intrusive” crackdown on foreign takeovers as City dealmakers warned the rules could tip crisis-hit firms over the edge by stopping them raising money quickly. John Fingleton, who ran the Office of Fair Trading monopolies regulator from 2005 until 2012, branded the regime “over-expansive” and dismissed its benefits as “very illusory” amid fears it could wreck the City's reputation as a global hub. He said: &l