I've been involved with many international groups where the controlling shareholders have a different domicile to the operating company. The shareholders will always call the shots. They can replace operating teams, restructure the business and transfer technology. The ultimate shareholder has control - have absolutely no doubt about that.

From an economic perspective that's not really the issue, it's the facilities, employment, skills and access to technology that governments mainly care about. Who the owner is only really matters to the extent that it influences those facts on the ground. Any owner could move the company's operations, no matter what their nationality.