Company takeovers Council of States committee rejects scrutiny of foreign investments

Takeovers of Swiss companies by foreign investors should not be subject to stricter controls. The responsible Council of States committee no longer wants to know anything about an investment screening law and has requested that the bill not be approved.

In September, the National Council approved the introduction of an investment audit by a clear majority. It went even further than initially planned. The audit should also cover non-state investors.

The Economic Affairs Committee of the Council of States (WAK-S) takes a different view: it proposed to the Council by 8 votes to 4 that the bill should not be adopted, as the parliamentary services announced on Friday. This was preceded by a hearing with numerous stakeholders and extensive discussions in the committee.

In the opinion of the majority of the WAK-S, after weighing up the interests of security and economic policy, the disadvantages that the introduction of an investment review would entail outweigh the advantages. A minority requested the Council of States to approve the bill.