Hutchison ports deal: China regulator warns parties not to circumvent probe
State Administration for Market Regulation says it is ‘highly concerned about the relevant transaction’ following reports deal is to be split up
The warning from a spokesman for the State Administration for Market Regulation on Sunday followed a media question over a recent report that suggested the wealthy Italian Aponte shipping family was looking to carve out two Panama Canal ports from the US$23 billion deal.
“We are highly concerned about the relevant transaction and will review it in accordance with the law,” the spokesman said.
“The parties to the transaction shall not circumvent the review in any way and shall not implement the concentration [of business operators] before approval, otherwise they will bear the legal responsibility.”
Under Article 20 of the mainland’s Anti-Monopoly Law, “concentration” refers to the merger of business operators, acquiring control over another by acquiring their equity or assets, or an operator acquiring control or influence over others with a contract or other means.