Germany reveals plan to stop foreign takeovers

Germany's economy minister, Peter Altmaier, on Tuesday officially launched a controversial plan aimed at developing the country's industrial sector and increasing its international competitiveness in technology and innovation.

Though it was the first time Altmaier fully detailed the "National Industry Strategy 2030," some key points had previously been revealed to the German media the previous week, prompting the minister to take the defensive against claims of protectionism and intrusive state intervention.

Plan 2030's main points

• The state must support innovation and help bring key technologies to Germany and Europe while reducing business costs from new environmental and social policies.
• Competition law must be overhauled to facilitate company mergers in specific situations when a larger company could better compete at a global level.
• German or European companies should be encouraged to take over key technology companies up for purchase.
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