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Commerce chamber concerned about "political interference" in Chinese company's takeover bid of German chip equipment maker

Xinhua, October 27, 2016 Adjust font size:

China's Fujian Grand Chip Investment Fund LP's takeover bid for German semiconductor equipment company Aixtron is a regular business action and should not be interfered with politically again, the Chinese Chamber of Commerce in Germany (CHKD) said in a statement on Thursday.

"The companies located in Germany are concerned about the fact that relevant governmental authorities in Germany are once again politically interfering in investment from China and have no understanding of the short-term contradictory decision of the Federal Ministry for Economic Affairs and Energy of Germany (BMWi)," according to the Berlin-based institution.

The statement also noted that political unpredictability and uncertainty would not only worsen the investment climate in Germany and lead to losses for investors, but would also have a negative impact on the credibility of the German federal government.

BMWi withdrew the clearance certificate for Grand Chip a few days ago. The ministry has reopened the review of the 670-million-euro (732.06 million U.S. dollar) deal after it was initially approved on September 8.

It follows the interference of the German federal government in Chinese home appliances giant Midea Group's takeover of German robot maker Kuka in June. In August, the German government announced it would not hinder the deal, as it would not endanger Germany's security.

"The relevant government authorities in Germany should not, on the one hand, demand the opening of the Chinese market, but at the same time repeatedly create barriers to market activity. Such protectionist tendencies will soon be detrimental to the development of the German and European economy," emphasized CHKD, which represents Chinese business in Germany. Endit