Germany says not blocking Chinese bid for robotics firm

Berlin today denied blocking a Chinese takeover bid for German industrial robotics supplier Kuka, ahead of Chancellor Angela Merkel's visit to China.
Economy Minister Sigmar Gabriel "is not trying to get a consortium to make an offer that is competitive" to that of the Chinese group Midea, a spokesman said.
"This is a company decision, the government is not actively implicated," he added.
Chinese appliance giant Midea -- best known for its washing machines and air conditioners -- last month launched a takeover offer for Kuka.
It is seeking at least a 30 per cent stake in a deal that values Kuka at 4.6 billion euros (USD 5.2 billion). Midea already holds a 13.5 per cent stake in Kuka.

But German media reported that top officials in Brussels and Berlin are against the takeover bid, and are seeking an European counter-offer.

Gabriel, who is also Germany's vice chancellor, had also voiced concern about the proposed deal at a cabinet meeting last week, the Frankfurter Allgemeine Zeitung had reported.
Kuka, based in the southern German city of Augsburg, describes itself as one of the world's leading manufacturers of industrial robots and automated systems for manufacturing.
Midea is a leading consumer appliances maker as well as China's biggest producer of heating, ventilation and air-conditioning systems. Its global turnover was more than USD 22 billion last year, according to its website.