Deals
Kuka Should Remain in Europe Investor Hands, EU’s Oettinger Says
- EU commissioner wants white knight from region for robot maker
- Chinese appliance-maker Midea has offered to raise its stake
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Kuka AG, the German maker of industrial robots that became a takeover target for China’s Midea Group Co. two weeks ago, would be better off with a white knight from closer to home to keep key knowledge within the region, European Union Digital Economy Commissioner Guenther Oettinger said.
“Kuka is of significant importance for the digital future of European industry,” Oettinger said Monday in an e-mailed response to questions. “Since there was no cry for help to China, the thought should be allowed that a European approach -- an alternative offer from one of its large shareholders or other companies stepping in -- could be a better solution. We should do a better job in looking after the key future contributors to Europe’s industry.”