(This June 1 story corrects headline to say American Chamber of Commerce, not U.S. Chamber of Commerce) By Foo Yun Chee BRUSSELS (Reuters) – Proposed EU legislation targeting foreign state-backed buyers of European companies prompted by fears of a Chinese buying spree may be impossible to comply with in practice, the American Chamber of Commerce and peer groups for Indian and Japanese businesses said on Wednesday. The concerns voiced by the groups come as European Union governments and EU lawmakers are set to meet this month to discuss and possibly adopt the European Commission’s proposal anno…