Cosco entry at the port of Hamburg: Federal government approves deal
The planned sale of parts of the Port of Hamburg to the Chinese state-owned company Cosco is causing discussions at the federal level.
(Photo: IMAGO/Nikita)
Berlin On Wednesday, the federal cabinet approved the compromise on the participation of the Chinese shipping company Cosco in a terminal in the port of Hamburg. This is reported by several news agencies unanimously.
Accordingly, the Chinese should not be able to participate in a container terminal at the port with 35 percent as planned, but with 24.9 percent. The Handelsblatt had already reported the week before lastthat Cosco could only participate with the smaller share.
In this way, the federal government wants to prevent the state-owned company from having a blocking minority and being able to influence the decisions of the operating company of the port terminal in question.
Cosco deal: Previously, much criticism of Chinese participation
The controversial entry is thus sealed. Time was of the essence because a deadline for a ban on the deal was due to expire on October 31.
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