Select a language
“A fireside decision for Europe,” headlines De Volkskrant. The sale of Draka, a Dutch wire and cable manufacturer, to Italy’sPrysmian, and not to the Chinese bidder Xinmao, was decided by Fentener van Vlissingen, one of the wealthiest families in the Netherlands, which holds a 48.5% stake in the company. This is a strategic decision for Europe, stresses the Dutch daily, as Draka is one of the world leaders in a high-tech industry which is of vital importance to the telecommunications, defence and aeronautics sectors, and which includes fibre-optic cables. Xinmao had outbid Prysmian, fuelling European fear that the Chinese would obtain high-tech know-how and patents. The European Commission must now decide whether the deal abides byEuropean competition rules.
Do you like our work?
Help multilingual European journalism to thrive, without ads or paywalls. Your one-off or regular support will keep our newsroom independent. Thank you!
