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Chinese company Cosco acquires stake in Hamburg port terminal | DW Business

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Chinese state-owned company Cosco has got the green light to acquire just under a quarter of a stake in a container terminal at Germany's biggest port of Hamburg. The decision comes after months of argument within Germany's coalition government. Cosco had originally sought a 35% stake - a prospect that caused an outcry over fears it would give China too much influence on German and European transport infrastructure. The current arrangement does not give Cosco any say in management or strategic decisions. China accounts for around 30% of the goods coming in and out of the port of Hamburg.

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#Cosco #China #Germany
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