The German government is preparing to oppose the acquisition of logistics firm Zippel, operating in the Port of Hamburg, by China’s state-owned enterprise Cosco.
Sea-news.az reports citing Handelsblatt newspaper, that serious security concerns surround the deal, and the German government is expected to block the purchase.
According to reports, the drafted documents draw special attention to the risk of creating strategic dependencies. It is emphasized that such dependencies could serve as leverage during times of political tension. Cosco reportedly intends to acquire an 80 percent stake in Zippel.
In 2023, the Chinese company acquired a 24.99 percent stake in the Tollerort container terminal at the Port of Hamburg. At that time, concerns were similarly raised regarding China’s growing influence over Germany’s critical infrastructure, leading the German government to approve only a limited share acquisition.
China remains one of the largest trading partners of Germany and the Port of Hamburg. Nevertheless, it is noted that Berlin’s stance on the new transaction is primarily driven by national security considerations and strategic dependency risks.
