Why a German minister wants to block the sale of a chip factory
DW, 09 Nov 2022
German Economy Minister Robert Habeck wants to stop the sale of a chip production plant to a Chinese investor. The Green Party politician has expressed concern about giving China control over key infrastructure.
Sweden-based Silex, a unit of Chinese company Sai MicroElectronics, is seeking to take over the chip firm Elmos.
Silex is seeking to buy the Elmos site for some €85 million (just under $85 million). The move could see the German firm end production and simply sell Silex-made chips to its clients.
However, Germany's Federal Ministry for Economic Affairs and Climate Action, headed by Green Party politician Habeck, is against the sale. A source at the ministry told the AFP news agency that the acquisition would "constitute a threat to public order and... security."
"The ministry has therefore suggested that the federal cabinet prohibits the acquisition of Elmos," the source was cited as saying.
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
►Twitch: https://www.twitch.tv/dwnews_hangout
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#Germany #China #trade