Germany finds compromise over Chinese stake in Hamburg port

BERLIN (AP) — Germany’s government has agreed on a compromise to allow a Chinese shipping group to take a smaller stake in the operator of the country’s biggest container terminal. The Germany Ministry for Economic Affairs said German Chancellor Olaf Scholz’ Cabinet agreed on Wednesday to allow COSCO Shipping to only acquire a stake below 25% in the Tollerort terminal of Hamburg port logistics company HHLA. The original deal had called for a 35% stake. The ministry says the decision was made to prevent a “strategic investment” by COSCO in the terminal and “reduces the acquisition to a purely financial investment” due to “the existence of a threat to public order and safety.”