RT
October 27, 2022
Germany has agreed to allow Chinese shipping group Cosco to buy a stake in a terminal at the country’s largest port in Hamburg, various media outlets reported on Wednesday citing the German Cabinet.
The Chinese company will be allowed to acquire a 24.9% stake in one of logistics firm HHLA’s three terminals. Cosco initially made a bid for a 35% stake last year. However, opinions were split within the German government on whether such a stake would give the Chinese company, which was already the port’s biggest customer, too much power.