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Germany says not mulling state fund to fend off unwanted foreign investment

Reuters  |  BERLIN 

BERLIN (Reuters) - Germany denied a newspaper report on Wednesday that said the government was mulling the creation of a sovereign wealth fund to buy company stakes and beat predatory Chinese and Gulf investors so that key technology remained in German hands.Berlin was spooked by the takeover of robotics firm Kuka by China's Midea in 2016 and the surprise purchase earlier this year of a 9.7 percent stake in Daimler by Chinese carmaker Geely.German daily Frankfurter Allgemeine Zeitung (FAZ) reported that a move by German state development bank KfW to buy a stake in high-voltage grid operator ...

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First Published: Wed, September 12 2018. 16:04 IST