A row has broken out in the German government over whether to let Cosco, the Chinese shipping conglomerate, take a stake in a Hamburg container terminal, with chancellor Olaf Scholz in favour and several ministries opposed on security grounds.
Cosco Shipping Ports last year agreed to buy 35 per cent of Tollerort, a container terminal in Hamburg, from logistics company HHLA for €65mn.
But the economy ministry tried to block the deal on the grounds that the terminal was part of Germany’s “critical infrastructure” and should not be owned by foreign rivals. Other ministries, including defence, foreign and interior, also opposed the sale.
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