Austria might restrict acquisitions by foreign companies

© Scanpix/AFP

Austria's government is discussing a law on limitation of the foreign investors' ability to take over Australian companies that are of strategic importance. The new regulation will come in force in December, said Christoph Matznetter, spokesman of Social Democratic Party. New regulation will oblige foreign buyers to obtain the government's approval to take over more than 25% of strategic Austrian businesses. EU, the European Economic Area and Switzerland are excluded from new law.