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Hamburg’s mayor warns against Cosco deal intervention

On Monday, Hamburg’s First Mayor Peter Tschentscher urgently warned against rejecting the investment of the Chinese shipping company Cosco in the Port of Hamburg. Should Economy Minister Robert Habeck reject Cosco’s participation in the “Tollerort” container terminal, it would have serious competitive disadvantages for Hamburg. “A rejection of Cosco’s participation by the German government cannot be justified on the grounds of national security and independence,” Tschentscher told Reuters. It would be a heavy burden for the business site and “a one-sided, competition-distorting disadvantage for Hamburg compared to Rotterdam and Antwerp, where Cosco already owns terminal shares.”

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