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German govt declines comment on Chinese Osram bid, says wants fair competition
October 10, 2016 / 10:16 AM / a year ago

German govt declines comment on Chinese Osram bid, says wants fair competition

BERLIN, Oct 10 (Reuters) - The German government has no comment on reports of a Chinese takeover bid for lighting company Osram, an economy ministry spokesman said on Monday, but stressed it wanted to ensure conditions for competition were fair.

“We have taken notes of the reports. However, this is a company issue and we can’t comment further,” Andreas Audretsch told a regular government news conference in Berlin.

He added that Germany is an open economy and welcomes investment by foreign companies, but said the government was keen to ensure that competition with other countries was also on a level playing field.

“We don’t want protectionism but we want fair conditions for competition,” Audretsch said.

German magazine WirtschaftsWoche reported that Chinese chipmaker Sanan Optoelectronics Co Ltd wants to buy lighting company Osram, the latest German technology firm to attract Chinese bidders. (Reporting by Paul Carrel; Writing by Caroline Copley; Editing by Joseph Nasr)

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