A defiant message
April 16, 2009 | BY
clpstaff &clp articlesChina's rejection of Coca-Cola's bid for Huiyuan Juice on anti-monopoly grounds stirred debate on protectionism, and raised unwarranted concerns about future M&A activity in the country
By Stephen Mulrenan.
China's Ministry of Commerce (Mofcom) announced its much anticipated ruling on Coca-Cola's bid for the country's top juice maker Huiyuan in March. But the vitriolic response that followed caught it very much by surprise.
China's Anti-monopoly Law (AML) (中华人民共和国反垄断法) faced its sternest test when Mofcom concluded the second stage of its review of Coke's bid for Huiyuan Juice on competition grounds. In delivering its verdict, the anti-monopoly regulator cited concerns about the proposed merger's impact on existing small-scale juice manufacturers as justification for blocking the deal.
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