Berlin (dpa) – Berlin on Friday blocked China’s entry into the German electricity sector on the grounds of national security.
Germany’s state-owned KfW bank acquired a 20-per-cent share in the grid operator 50Hertz, as a result heading off a bid by the giant Chinese state-owned company SGCC.
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“The government has a strong interest in protecting critical energy infrastructure because of security policy considerations,” the Economy Ministry in Berlin said in a statement.
The move by Germany sends a major political signal to Beijing, with Chinese investors having been on a shopping spree in Germany and Europe aimed at acquiring key technology companies.
