UK entrepreneurs hit out at plans to toughen takeover rules

  • Startup founders and venture capitalist in the UK are alarmed by proposed new laws to scrutinize foreign buyers buying and investing in British firms. 
  • The laws would impact firms operating in 17 so-called ‘sensitive industries’ such as artificial intelligence, quantum computing, and data. 
  • Any prospective major investors or buyers would need to pass the scrutiny of a new Investment Security Unit.
  • Charles Delingpole, CEO of anti-fraud startup ComplyAdvantage, warned the move would “effectively give the government a veto” over any foreign acquisition. 
  • Visit Business Insider’s homepage for more stories.

Venture capitalists and founders in the UK have expressed alarm at government plans to limit foreign companies from buying up British firms, warning such a move could be “risky for the startup ecosystem”. 

On Wednesday, the UK government announced a proposed overhaul of takeover laws that give it greater power to scrutinize foreign acquisitions of and investment in UK companies in

Read More