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

Wednesday, February 22, 2017 - 21:39

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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.

[LONDON] 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 US$143 billion bid from US 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.

REUTERS

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