February 22, 2017 / 12:49 PM / 6 months ago

UK to set out proposed government role in foreign takeovers in next few weeks

Demonstrators supporting Brexit protest outside of the Houses of Parliament in London, Britain, November 23, 2016.Toby Melville/Files

LONDON (Reuters) - Britain's business minister said on Wednesday he will set out proposals over the government's stance towards the possible foreign takeover of British firms, particularly in critically important areas such as nuclear power, in the coming weeks.

Anglo-Dutch firm Unilever rejected a $143 billion bid from U.S. rival Kraft Heinz last week and Prime Minister Theresa May intervened in a deal to build a new nuclear plant in Britain which strained relations with China, which will help pay for it, and France, which will build it.

"We will be setting out some proposals in the weeks ahead," Greg Clark told a London conference on Wednesday.

Reporting by Costas Pitas; editing by Maytaal Angel

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