Whoops, the European company just got bought out by a US entity. Tough luck! [1]
Is this part of the spec? If not, it's as loose as a tent. And by "part of the spec" I mean "all your assets will be forcefully nationalized the second you or a parent company of yours becomes less than X% European owned", where X is well above 50.
As a rule of thumb, I wouldn't assume that any scenario you came up with on the spot was overlooked by an agency whose job it is to not overlook complex scenarios, let alone trivially simple ones.
To start with... states can and will absolutely block the sale of strategic national companies to foreign actors. But I'm sure you knew that.
The link shows that this isn't something I've come up with on the spot, it's literally happening today, and it's not being blocked. They can, yet will not, because scared of the US.
The sovereign cloud spec designed by the folks at France's ANSSI agency is tight.