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Germany not affected by Obama veto of Chinese company's Aixtron takeover: spokesperson

Xinhua, December 4, 2016 Adjust font size:

Germany will not be affected by the latest decision of U.S. President Barack Obama to block a Chinese company's purchase of the U.S. business of German chip equipment maker Aixtron, said a government spokesperson on Saturday.

"Although the U.S. procedure should have been concluded, this will have no effect on the German procedure," said Korbinian Wagner, spokesperson for the Germany Federal Ministry for Economic Affairs and Energy (BMWi).

"The process is running, the result is now open, and we have to wait for the process," Wagner was cited by German news media as saying.

The U.S. Department of Treasury said in a latest statement that Obama issued an order directing China's Fujian Grand Chip Investment Fund (FGC) to "fully and permanently abandon" the proposed acquisition of Aixtron's U.S. business.

In October, BMWi suddenly withdrew the clearance certificate for Grand Chip. The ministry then reopened the review of the 670-million-euro (715-million-U.S. dollar) deal after it was initially approved on Sept. 8. Endi