BERLIN (AP) — Germany gave final approval Wednesday for a Chinese company to take a significant minority stake in the operator of a container terminal at the Hamburg port, following concerns that a larger buy-in might pose a national security risk.
The government said it would stick to a compromise agreed to last year barring COSCO Shipping from acquiring more than than 24.99% of the Tollerort terminal of Hamburg port logistics company HHLA.
Two junior partners in Chancellor Olaf Scholz's governing coalition — the Greens party and the Free Democrats — demanded the cap last year, warning that a larger stake could give China undue control over Germany’s critical infrastructure.
HHLA said the approval would allow it to become a preferred handling location for COSCO. About 30% of the goods handled in the Port of Hamburg already come from China or go to China, it said, adding that the transaction would be finalized soon.
COSCO also holds stakes in several other European ports, including Greece’s main port of Piraeus.
Before you consider RLI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RLI wasn't on the list.
While RLI currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
