Dec 23, 2016 06:48 PM

Chinese Companies Announce Plans to Buy 49% of Global Switch

(Beijing) — A group of companies that includes China's largest private steelmaker and a firm that stores data for Alibaba Group Holding Ltd. has agreed to buy 49% of European data center operator Global Switch for 2.4 billion pounds ($3 billion).

The deal could face political scrutiny amid growing concerns about Chinese purchases of Western assets in the high-technology field.

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