BERLIN, Sept 13 (Reuters) - The German government on Wednesday forbid the complete takeover of satellite startup KLEO Connect by a Chinese firm, two government sources told Reuters.
The cabinet agreed a decision by the economy ministry not to let Shanghai Spacecom Satellite Technology, which already has 53% of the company, acquire the 45% minority stake of German company EightyLeo, according to the sources.
Berlin last November blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing.
The United states and the European Commission had also warned against the deal that had been long in the pipeline, according to sources and media reports.
Reporting by Andreas Rinke; Writing Sarah Marsh; Editing by Friederike Heine and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons:
Elon Musk, Chancellor Olaf Scholz, Andreas Rinke, Sarah Marsh, Friederike Heine, Louise Heavens
Organizations:
Wednesday, Reuters, Shanghai, Satellite Technology, KLEO Connect, SpaceX, HK, United, European Commission, Thomson
Locations:
Ukrainian, Sevastopol, Germany, China, Berlin, Beijing, Hamburg