July 23, 2018 / 5:49 PM / 10 months ago

UK government eyes new powers to block foreign takeovers: Sky News

Britain's Secretary of State for Business, Energy and Industrial Strategy Greg Clark leaves 10 Downing Street after attending the weekly cabinet meeting, in Westminster London, Britain, July 17, 2018. REUTERS/Henry Nicholls

(Reuters) - The British government is eyeing new powers to block or unwind foreign takeovers which pose a potential risk to national security, Sky News reported on Monday.

Proposals are to be unveiled in White Paper to be published by Greg Clark, the Business Secretary, on Tuesday and will extend the government's existing oversight of mergers and takeovers to a broader range of industries, the report said. bit.ly/2Lvd3tb

The National Security Investment White Paper would close a loophole which meant that the government could only intercept corporate takeovers across the economy where there was a competition-related concern, Sky News said citing sources.

Reporting by Rama Venkat Raman in Bengaluru, editing by David Evans

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