Siemens won't bid for robot maker Kuka

Beijing

SIEMENS has no interest in becoming a white knight for German robot maker Kuka, which is the target of a 4.5 billion euro (S$6.88 billion) takeover bid by Chinese home appliance maker Midea, Siemens' chief executive said. "If we had been interested, we would have acted on it some time ago," Joe Kaeser told German broadcaster ntv on Sunday.

Midea's bid has fanned a furious debate over Chinese takeovers in Europe, with politicians such as German Economy Minister Sigmar Gabriel calling for tougher restrictions. It has also prompted Berlin to consider whether Kuka's technology is crucial for the digitalisation of German industry, an economic priority.