Berlin reviewing decision to allow China's Cosco to invest in Hamburg port terminal (updated)

Hamburger Hafen und Logistik AG

12/04/2023 13:15

(Adds background, details from presser)
       BERLIN, April 12 (Reuters) - Berlin is reviewing its
decision to allow China's Cosco  601919.SS  to take a stake in
one of logistics firm HHLA's  HHFGn.DE  three terminals at the
Hamburg port, a spokesperson for the German economy ministry
said on Wednesday.
    Responding to a question about the reported classification
of Tollerort as critical infrastructure, the spokesperson said
it was being determined whether and under what conditions Cosco
would be allowed to take a stake in the terminal named
Tollerort.
    The German cabinet gave Cosco the go-ahead to take a 24.9%
stake in the port in October last year.
        German Chancellor Olaf Scholz gave the green light at
the time despite strong pushback within his three-way coalition
amid fears of growing Chinese influence on the German economy.
  
        Earlier on Wednesday, the Sueddeutsche Zeitung newspaper
reported that the Federal Office for Information Security (BSI)
had since classified Tollerort as critical infrastructure,
meaning it should be subject to special protection.
  
        HHLA told the newspaper that the classification had been
agreed at the start of the year.
  
        A spokesperson for Scholz said his stance on the issue
had not changed.
  

 (Reporting by Friederike Heine, Editing by Matthias Williams
and Rachel More)
 ((friederike.heine@thomsonreuters.com;))