In the dispute over the entry of the Chinese state-owned company Cosco into a container terminal in the port of Hamburg, the federal cabinet must decide on a compromise on Wednesday. Specifically, this is a so-called partial ban, as it was called in government circles.
According to this data, Cosco could participate in the Tollerort terminal of the Hamburg port logistics company HHLA, as agreed more than a year ago – but only at 24.9 percent and not at 35 percent as previously planned.
The partial ban aims to prevent strategic participation and reduce participation to purely financial participation. Among other things, the acquiring company should be prohibited from having contractual veto rights over strategic business or personnel decisions. It may also not appoint members of the board of directors.
It is not yet clear whether Cosco agrees to the compromise.
Compromise is controversial
The compromise that is now emerging is controversial in the traffic light coalition. Impressed by recent experience with Russia and its reliance on its gas supply, a political dispute arose over whether to allow Chinese participation.
Federal Economy Minister Robert Habeck (Greens) warned of new dependencies and wanted to completely ban Chinese access. Other ministries also wanted this.
However, according to media reports, the Chancellery insisted that the entry take place. If the cabinet does not make a decision this week, the sale will be automatically approved as agreed by Cosco and HHLA.
(dsc/sda/dpa)
Soource :Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
