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Chinese bidders walk away from Osram takeover - sources
December 13, 2016 / 3:22 PM / in 10 months

Chinese bidders walk away from Osram takeover - sources

FRANKFURT, Dec 13 (Reuters) - Chinese interest in a takeover of lighting group Osram Licht AG has cooled amid signs of mounting political opposition to Chinese takeovers in Germany, two people familiar with the matter said on Tuesday.

Sanan Optoelectronics and venture capital firm GSR Go Scale Capital Advisors have stopped pursuing a full bid for the whole company, the people, who declined to be named, said.

“Resistance from labour representatives and from politicians has left an impression on the Chinese”, one of them said.

Osram declined to comment. Sanan and GSR Go Scale Capital Advisors could not immediately be reached for comment. (Reporting by Arno Schuetze, Alexander Huebner and Jens Hack; Additional reporting by Julie Zhu in Hong Kong; Editing by Edward Taylor and Maria Sheahan)

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