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UK to announce laws to prevent foreign takeovers posing national security risk: Times
[BENGALURU] British Prime Minister Boris Johnson is preparing to announce tough laws to prevent foreign takeovers that pose risks to national security amid growing concern about the influence of China, The Times newspaper reported.
The prime minister is said to be pressing for legislation to make it mandatory for companies to report attempted takeovers which could give rise to security risks, backed by the threat of criminal sanctions, according to the newspaper.
Companies that fail to report takeovers or ignore conditions imposed by the UK government after takeovers could see their directors jailed, disqualified or fined, the newspaper said.