Bloomberg.com, 20 Aug 2008, By Rainer Buergin and Brian Parkin
Aug. 20 (Bloomberg) -- German Chancellor Angela Merkel's Cabinet approved a draft law aimed at fending off undesired foreign takeovers, setting limits on investment that reflect concern over the growing strength of sovereign wealth funds.
Germany said last year that it will follow the U.S. and France in thwarting investments that jeopardize the security of key industries such as telecommunications and ports. Sovereign wealth funds controlled by countries including Russia and China manage $3.85 trillion, according to the International Monetary Fund. That sum may be as much as $15 trillion by 2015, it says.
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