Germany welcomes foreign takeovers, but wants fair conditions: Merkel spokesman
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
German government spokesman Steffen Seibert addresses a news conference in Berlin, Germany, April 15, 2016. REUTERS/Fabrizio Bensch
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
BERLIN (Reuters) - Germany welcomes foreign takeovers of its companies, including from China, but needs to ensure that its firms are protected from unfair competition, a government spokesman said on Monday.
"The whole government is convinced that it is right that the market is open to investments from abroad, including from China," Steffen Seibert told a regular government news conference in Berlin.
"Germany as an industrial center must, however, be effectively protected from unfair competitive situations," he added.
Economy Minister Sigmar Gabriel travels to China this week having openly complained that China is strategically buying up key technologies in Germany while protecting its own companies against foreign takeovers with "discriminatory requirements".
A foreign ministry spokeswoman said she couldn't confirm or deny a report that China has summoned the German ambassador ahead of Gabriel's visit.
(Reporting by Joseph Nasr and Caroline Copley)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- About 40 cars in pile-up on interstate highway northwest of Detroit
- Vietnam arrests CEO, four other executives of Dong A Bank
- Indonesia counter-terrorism forces foil plot to bomb state palace: police
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!