German Chamber of Commerce slams Merkel's stance on foreign takeovers

Berlin - The German Chamber of Commerce (DIHK) has voiced criticism of the German government's plan to tighten rules on foreign investment, thereby giving itself wider powers to block takeovers, especially from China.

"A tightening [of takeover rules] could deter foreign investors and at the same time create obstacles for us in other countries," DIHK's chief executive Martin Wansleben told dpa Wednesday.
"It is important for the federal government and the European Union to promote open markets and economic equality worldwide, especially with regards to China," Wansleben said.
Chancellor Angela Merkel's government made use of the new rules for the first time last week, with her cabinet voting to block the takeover of German machine tool manufacturer Leifeld.
The government's move comes amid concern China could gain undue influence over European economies through foreign investment.


Wednesday, August 8th 2018

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