Communications Minister concerned over Chinese takeovers of Swiss firms
Swiss Communications Minister Doris Leuthard says she’s concerned about potential takeovers by Chinese businesses of 'strategically sensitive' companies in Switzerland and has called on the government to discuss how to react when Chinese firms plan Swiss takeovers.
During a visit to technology companies in southern China, Ms. Leuthard said that Switzerland should insist that Chinese takeovers of Swiss companies without conditions should only be allowed if Swiss businesses can make acquisitions in China. Currently, Swiss firms are only allowed to have joint ventures with Chinese firms.
She also said that the majority ownership of companies that are strategically important to Switzerland should stay in Swiss hands and that the Swiss Competition Commission should look in to each case.
In the past few years, there have been several high-profile merger and acquisition deals by Chinese firms in Switzerland, including the record CHF 43.06 billion takeover of agrochemical giant Syngenta by the China National Chemical Corporation in 2016.