Chinese takeover of Elmos’ chip production hits hurdle in Germany
The German government will likely block the Chinese takeover of Elmos' chip factory, the Dortmund-based company said. The economics ministry had been examining the sale to competitor Silex, a Swedish company that is a subsidiary of Chinese group Sai Microelectronics . The deal "will most likely be prohibited" in a "new development", Elmos said on Monday.Read Also Until Monday, the ministry "had indicated to the parties that the transaction most likely will be approved". Elmos said that it would examine further steps…