Merger of Suez and Veolia the World’s Biggest Water Corporations Creates a Dangerous Monopoly

[Vinay Baindur]

  
       

 From Food and water Watch

https://www.foodandwaterwatch.org/news/merger-worlds-biggest-water-corporations-creates-dangerous-monopoly


  Merger of World’s Biggest Water Corporations Creates Dangerous Monopoly

*“Privatized water systems must revert to public control to ensure
safety and affordability.”*

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10.5.20

*Washington D.C. *- Today,  Veolia announced the acquisition of 29.9
percent of Suez with a plan to acquire full control, merging the two
largest water corporations in the world. As part of the deal, Veolia
would spin off the Suez water business in France to Meridiam to avoid
French antitrust hurdles, but the corporation will retain control of the
water assets in the United States, Spain and Chile.

In response to the development, *Food & Water Action Public Water for
All Campaign Director Mary Grant* issued the following statement:

“Veolia’s global domination of public water services is becoming a
terrifying reality. The merger of the world’s largest water corporations
will erode any semblance of competition for water privatization deals.
This lack of competition will lead to unaffordable costs for families,
slack maintenance and safety procedures, loss of union jobs, and
potentially rampant corruption. Water privatization has been a disaster
for communities across the United States and around the world. As the
fiscal realities of the COVID crisis begin to set in for struggling
municipalities, some may consider selling off their valuable water
systems as a short-term solution. But this would create long-term harm.
Communities must revert all privatized water and sewer systems to public
control to ensure safety and affordability for all.”