UK plans U-turn on powers to halt company takeovers on national security grounds

Change of tack sees government treading fine line between being more business friendly' and defending national interest

The UK government is looking to roll back powers to intervene in company takeovers less than two years after they were introduced, in an attempt to be more business friendly".

Oliver Dowden said the government will review measures narrowing and refining" the National Security and Investment Act, which only entered into force in January 2022, and allowed much greater scrutiny of foreign investments in British companies.