German cabinet blocks Chinese takeover of Elmos chip factory, ERS - source

Elmos Semiconductor SE

09/11/2022 10:25

BERLIN, Nov 9 (Reuters) - Germany's cabinet has agreed
to block the prospective Chinese takeovers of Elmos'  ELGG.DE 
chip factory and semiconductor firm ERS Electronic, a government
source said on Wednesday.
    The economy ministry had previously said a Chinese takeover
of the Elmos factory would pose a threat to national security.
    Chancellor Olaf Scholz's government is working on a China
strategy focused on reducing one-sided dependencies and
encouraging diversification, as well as protecting
infrastructure and preventing technology leakage.
 (Reporting by Andreas Rinke
Writing by Madeline Chambers
Editing by Rachel More)
 ((Madeline.Chambers@thomsonreuters.com; +4930220133578;))