WORLD Berlin plans tighter rules to shield tech firms from non-EU takeovers

WORLD

Berlin plans tighter rules to shield tech firms from non-EU takeovers

AFP

20:05, November 28, 2019

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File photo: CGTN

Germany's economy ministry on Thursday said it planned to tighten rules on non-EU takeovers of hi-tech firms, amid growing alarm about Chinese firms buying up German know-how.

In a statement, the ministry said it had drafted an amendment to the Foreign Trade Regulation that would allow the government to review or block foreign purchases of stakes as low as 10 percent in "critical technology" companies.

It would affect firms in the areas of robotics, artificial intelligence, semi-conductors, biotechnology and quantum technology.

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