FRANKFURT (Reuters) - The German government has turned down pending a review a Chinese request for approval of a takeover of Osram's (DE:OSRn) Ledvance unit, German WirtschaftsWoche reported on Thursday, citing financial sources.
Earlier this year, Osram agreed to sell its general lighting lamps business Ledvance to a consortium of Chinese buyers, including lighting company MLS <002745.SZ> for more than 400 million euros ($437 million).
WirtschaftsWoche said Berlin has initially declined and would now review the planned acquisition, which means it could take months until there is clarity over whether the deal will go through.
The German economy ministry and Osram declined to comment on the report, which comes only days after Berlin put on hold the sale of semiconductor manufacturing equipment maker Aixtron (DE:AIXGn) to China's Fujian Grand Chip Investment Fund, citing security concerns.
Following the report, Osram shares extended losses to 4 percent at 0917 ET.
China's foreign ministry did not immediately respond to a request for comment submitted late evening Beijing time.
Concern is growing in Berlin about losing technology to China after a string of Chinese acquisitions of German companies including industrial robots maker Kuka (DE:KU2G).
Scrutiny of deals with Chinese buyers also does not bode well for talks between Osram and Sanan Optoelectronics <600703.SS> about a possible takeover or cooperation.
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