German government attempts last-minute block of Chinese involvement in grid operator 50Hertz

The Chinese state enterprise SGCC has already signed a contract to buy a 20-percent share of grid operator 50Hertz, but the German government is trying to reverse the deal – which it says concerns “critical infrastructure” – before it takes effect, Thomas Sigmund and Klaus Stratmann report for Handelsblatt. Belgian grid operator Elia, which owns the majority of 50Hertz’s shares, could use its right of pre-emption and then pass on the minority share to German state-owned bank KfW, the authors say, adding that the German Economy and Energy Ministry and 50Hertz both declined to comment. SGCC tried to acquire a 20-percent share in 50Hertz earlier this year, but then majority-owner Elia used its pre-emption right to stop the deal.

Read the article in German here (paywall).