Germany’s Klingbeil Favors Joint Ventures for Foreign Firms

Germany’s Finance Minister Lars Klingbeil wants to force foreign companies to form joint ventures with local firms to operate within Europe, while also seeking tighter scrutiny over cross-border takeovers.

The proposals by Klingbeil, who is also vice chancellor, aim to shield German businesses in sectors where they “have fallen behind technologically,” according to a finance ministry document outlining his keynote speech for delivery on Wednesday.