The UK government has ordered further investigation into the proposed acquisition of a British graphene-based products manufacturer by a Chinese company over national security concerns.
Business Secretary Kwasi Kwarteng wrote to the Competition and Markets Authority (CMA) on Wednesday, asking the competition watchdog to carry out an “in-depth Phase 2 investigation of the proposed acquisition of the Perpetuus Group by Shanghai Kington Technologies and others on national security grounds.”
Following a phase-one investigation, the CMA said it considered that “it does not believe that it is or may be the case that the transaction may be expected to result in a substantial lessening of competition within a market or markets in the UK.”
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