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UK to set out proposed government's role in foreign takeovers in next few weeks

Reuters
Britain's Secretary of State for Business Greg Clark arrives for a cabinet meeting in Downing Street, London, January 17, 2017. REUTERS/Neil Hall

LONDON (Reuters) - Britain's business minister said on Wednesday he will set out proposals over the government's stance towards the possible foreign takeover of British firms, particularly in critically important areas such as nuclear power, in the coming weeks.

Anglo-Dutch firm Unilever (ULVR.L) (UNc.AS) rejected a $143 billion (115 billion pounds) bid from U.S. rival Kraft Heinz (KHC.O) last week and Prime Minister Theresa May intervened in a deal to build a new nuclear plant in Britain which strained relations with China, which will help pay for it, and France, which will build it.

"We will be setting out some proposals in the weeks ahead," Greg Clark told a London conference on Wednesday.

(Reporting by Costas Pitas; editing by Maytaal Angel)