27-10-2022, 11:52 PM
https://www.dw.com/en/germany-agrees-on-...a-63547949
Germany agrees on compromise over China port bid
The compromise lets China's Cosco buy a smaller stake than planned in the Hamburg port terminal. The widely criticized initial deal would've given Cosco a major stake in the vital port.
The German Cabinet agreed on a compromise in the dispute over China's Cosco buying a stake in a Hamburg port terminal, as the Ministry of Economy and Climate Protection shared in a press statement on Wednesday, saying the "reason for the partial prohibition is the existence of a threat to public order and safety."
The compromise allows Chinese shipping giant Cosco to take a stake "below 25%" instead of the initially planned 35%. The initial deal was widely criticized as it would have given Cosco a major stake in Germany's largest port.
A dispute between German Chancellor Olaf Scholz and several government ministries had ensued over the bid, leading to the negotiation of the newly-announced compromise.
Germany's Cosco deal: A risky dependency?
Germany agrees on compromise over China port bid
The compromise lets China's Cosco buy a smaller stake than planned in the Hamburg port terminal. The widely criticized initial deal would've given Cosco a major stake in the vital port.
The German Cabinet agreed on a compromise in the dispute over China's Cosco buying a stake in a Hamburg port terminal, as the Ministry of Economy and Climate Protection shared in a press statement on Wednesday, saying the "reason for the partial prohibition is the existence of a threat to public order and safety."
The compromise allows Chinese shipping giant Cosco to take a stake "below 25%" instead of the initially planned 35%. The initial deal was widely criticized as it would have given Cosco a major stake in Germany's largest port.
A dispute between German Chancellor Olaf Scholz and several government ministries had ensued over the bid, leading to the negotiation of the newly-announced compromise.
Germany's Cosco deal: A risky dependency?