| MOFCOM: rejection of acquisition no move of protectionism |
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| Friday,March 20,2009 Posted: 05:04 BJT(2104 GMT) jedda |
Beijing,Mar. 19---Ministry of Commerce(MOFCOM) spokesman Yao Jian said today that China’s decision to reject Coca-Cola's acquisition of Huiyuan Juice Group was not an action of protectionism.
The spokesman said the ministry made the decision based "on sufficient investigation and research, on the basis of facts, and strictly inline with the country's anti-monopoly law," adding that countries worldwide commonly reviewed acquisitions under anti-monopoly laws, and China was no exception.
"The purpose of the examination is to maintain market competition, protect consumers and safeguard the public interest," he said.
MOFCOM made public on Wednesday its decision on Coco-Cola’s bid to acquire China’s giant beverage company Huyuan Group, ruling that the acquisition is against Chinese Anti-monopoly law, and thus to be prohibited. (Agencies)
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