Platini admitted "if it was in France, I would fight it".
Eight Premier League sides are now controlled by foreign owners following Thaksin Shinawatra's investment in Manchester City this summer.
And France legend Platini, recently elected head of the European governing body, has questioned the motives of some overseas investors.
Platini: "I would be worried if I were English because of all the foreign ownership.
"They could be rich people coming to help English football and develop it, but they may just want to make money.
"I fear your clubs will lose identity. If it was in France, I would fight it."