US intel agencies behind Berlin’s U-turn on Chinese takeover of German firm – report
US intelligence has compelled Berlin to stop a $730 million Chinese acquisition of a Germany-based tech company over alleged concerns that its high-end products had “military applications” and might benefit Beijing’s nuclear program, Handelsblatt reports.
The German Economy Ministry announced on Monday that it had canceled its approval for China’s Grand Chip Investment Fund (FGC) to purchase the Aachen-based high-tech company Aixtron for $732 million (€670 million), citing “security-related information” that emerged. A review of the deal is pending.
US secret services were behind the unexpected decision, Handelsblatt newspaper reported on Thursday, citing sources within the German intelligence community.
According to the report, during a meeting at the US embassy in Berlin, American officers showed German government officials evidence that Aixtron’s technology also has “military applications,” although they had refused to hand the evidence over.
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