China Blocks Purchase of Part of ABB Group
Published
Chinese authorities have blocked the purchase of part of the international industrial group ABB. The company ABB is among the world's major manufacturers in industrial automation, electrical engineering and robotics. The report is brief, but it shows that state authorities can intervene in business transactions between foreign companies.
According to available information, the decision concerns a part of the company that was to be transferred to a new owner. Chinese authorities therefore ruled that the transaction cannot go ahead. Details of the reasons for the decision are not yet available, and the official statement is limited.
Similar cases have been appearing more and more often in recent years. Countries are trying to protect technologies that they consider important for their economy and security. Controls on foreign investment and corporate sales are therefore being tightened not only in China, but also in Europe and the United States.
For the Czech Republic, the ABB Group is important because it also has operations and employees in our country. Developments in China are therefore being followed by Czech companies that cooperate with or supply foreign partners. The situation may continue to evolve depending on how both sides respond to the case.
Sources: Český rozhlas Plus
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