COSCO SHIPPING

After months of review, the German government has barred Cosco from buying an 80 percent stake in Hamburg logistics firm Zippel, citing security concerns. The Economy Ministry warns of deepened dependencies, risks to the resilience of supply chains and possible transports of defense-related goods. While the competition authority raised no objections, the domestic intelligence service reported concerns about data access and political influence. The veto comes against the backdrop of a tougher German and European stance toward China. » Plus sur zeit.de

The federal government has blocked the planned sale of the Zippel Group to the Chinese shipping company Cosco. The decision was justified by security concerns: a change of ownership to Cosco would deepen dependencies and endanger the stability of German and EU supply chains. Cosco had wanted to acquire 80 percent; Zippel CEO Axel Plaß planned to keep 20 percent and the day-to-day business was to continue unchanged. The Federal Cartel Office had previously approved the sale on competition grounds; the domestic intelligence service had raised security concerns. » Plus sur wiwo.de

The federal government has prohibited the sale of Hamburg logistics firm Zippel to Cosco over security concerns. Officials fear the takeover would deepen dependencies and endanger the stability of German and EU supply chains. Cosco had sought to acquire 80 percent; Zippel managing director Axel Plaß would have retained 20 percent and continued running the company; day‑to‑day operations are to remain unchanged. The Bundeskartellamt had approved the sale on competition grounds, but the Verfassungsschutz raised concerns, prompting the Federal Ministry for Economic Affairs to issue a prohibition order. » Plus sur finanzen.net