France has extended the list of strategic industries in which the government has the power to veto foreign takeovers, bringing into force a planned reform first unveiled in January last year. A new decree, published in December and effective from 01 January, adds a number of new sectors to the scope of the existing legislation, covering businesses involved in R&D, civil protection and aerospace activities.
The list of R&D fields includes, among others, businesses working on cyber security, AI (artificial intelligence), robotics and semiconductors, as well as companies hosting sensitive data. France’s finance minister Bruno Le Maire said that the next step for the government would be to put in place new measures ensuring the respect of the extended legislation by foreign investors.
