Germany blocks Chinese takeover of logistics company
Berlin bans the sale of 80 per cent of Hamburg-based firm Zippel to state-owned shipping line Cosco.
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The German government has banned the takeover of a major stake in logistics company Zippel by Chinese state-owned shipping line Cosco. The Federal Ministry for Economic Affairs cites dependence and the resilience of European supply chains as reasons.
The government decided on Wednesday that Cosco may not buy 80 per cent of the shares in Hamburg logistics company Zippel. A spokesperson for the German Federal Ministry for Economic Affairs confirmed the decision after a cabinet meeting, German public broadcaster ARD reported via Tagesschau.
Zippel transports containers by lorry, train and ship between, among other places, the ports of Hamburg and Bremerhaven and destinations in Germany’s hinterland. The company therefore operates in a different part of the logistics chain from Cosco, which is mainly active in international shipping and container terminals.
The German Federal Cartel Office had previously approved the takeover on competition grounds. That assessment concerned competition in the market, not possible consequences for national security. The government also conducted a separate investment screening, which takes strategic dependencies and infrastructure resilience into account.
Cosco is already involved in Hamburg’s Tollerort container terminal. Germany approved that participation in 2023, but limited the stake to 24.99 per cent. The new transaction would expand Cosco’s position from seaport activities to transporting containers by rail, inland waterway and road.
According to the German government, the sale would deepen dependence on China and weaken the resilience of European logistics chains. Earlier reports also referred to concerns about the use of transport capacity and information in a crisis. Those concerns are political and security considerations, not a finding that Zippel or Cosco had broken the law.
The decision is relevant to other European countries that allow Chinese state-owned companies into ports, rail links and the logistics sector. Germany is trying to continue trade with China, while at the same time drawing a line at areas it regards as strategic. The sources do not yet provide an extensive response from Cosco or Zippel to the final ban.
One story, several perspectives
What is established
- Germany has blocked Cosco’s planned takeover of 80 per cent of Zippel.
- The Federal Cartel Office had previously approved the transaction on competition grounds.
- The government bases the ban on security and dependency concerns.
Left
Arguments Critical logistics infrastructure should not come under the control of state-owned companies from countries that can combine political influence with economic power. The government should exercise stronger public control over strategic sectors and protect workers and regions from geopolitical pressure.
Values Public control, economic democracy and resilience.
Consequences More control may limit dependencies, but could reduce foreign investment, jobs and competition.
Centre
Arguments A separate security review alongside competition law is defensible, provided that the criteria are transparent and applied to each transaction. Trade with China remains possible, but not every investment in a logistics link is harmless.
Values Institutional care, proportionality and European cooperation.
Consequences A case-by-case approach prevents arbitrariness, but can make decision-making slower and less predictable.
Right
Arguments The state must prevent foreign governments from gaining influence over transport, defence and supplies through companies. Economic independence is a condition for national security, even when a takeover appears commercially efficient.
Values National sovereignty, security and strategic autonomy.
Consequences Blocking the deal can protect vulnerable supply chains, but increases the likelihood of Chinese countermeasures and could make Germany less attractive to investors.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
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Tagesschau and Reuters confirmed the decision, the 80 per cent stake and Zippel’s logistics activities. The text distinguishes approval under competition law from the separate security review.
- confirmed Germany has banned the sale of 80 per cent of Zippel to Cosco. — Tagesschau cites the German Federal Ministry for Economic Affairs on this point. source
- confirmed Zippel transports containers by lorry, train and ship. — Tagesschau describes the company’s activities. source
- confirmed The German Federal Cartel Office had approved the takeover on competition grounds. — Tagesschau mentions the earlier approval by the Bundeskartellamt. source
- confirmed Cosco has a 24.99 per cent stake in the Tollerort terminal. — Tagesschau describes the earlier German decision from 2023. source
- confirmed Germany justifies the ban on the grounds of dependence and the resilience of European supply chains. — The ministry and Reuters report this rationale. source
Editor's note
The ban and its rationale were confirmed by the German ministry via Tagesschau and by Reuters. The sources used did not include a full response from Cosco or Zippel to the final decision.Sources
- Bund untersagt Zippel-Übernahme durch chinesische Staatsreederei — Tagesschau
- Germany blocks sale of logistics company to China's Cosco — Reuters via Devdiscourse
- Zippel-Übernahme durch Cosco: Warum der Bund genau hinschaut — Tagesschau
More on this in Dutch media
- de Volkskrant — „duitsland china”
- RTL Nieuws — „duitsland china”
- NOS — „duitsland china”