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China calls for fair treatment of its companies in takeovers

Staff Writer | July 6, 2016
China called on other countries to treat its companies "objectively and fairly" in overseas acquisitions bids as Chinese Midea looks set to secure a controlling stake in German robotics company Kuka.
Hong Lei
Chinese acquisitions   Chinese companies acted independently
Midea looked set to secure a 52.8 percent stake in Kuka after shareholders Voith and Friedhelm Loh sold their stakes to the Chinese bidder. Midea launched a 4.5 billion-euro ($5 billion) offer for Kuka in May.

"We hope that all countries can treat overseas mergers and acquisitions by Chinese enterprises objectively and fairly, and give fair treatment to these kinds of normal business activities, and also create a transparent and reasonable business environment," said Chinese Foreign Ministry spokesman Hong Lei in a briefing.

He said Chinese companies acted independently in terms of their business decisions, including overseas acquisitions.

Kuka already sells 25 to 30 percent of its robots in China, the firm's chief has said.