BUSINESS

China, Coca-Cola Deal Blocked Under Chinese Monopoly Law

04/18/2009 05:12 am ET | Updated May 25, 2011

March 18 (Bloomberg) -- China's rejection of Coca-Cola Co.'s $2.3 billion bid to buy China Huiyuan Juice Group Ltd. is the first denial of an acquisition under an anti-monopoly law that's been criticized since inception for a lack of openness.

The Ministry of Commerce, which said today it rejected Coca- Cola's acquisition as the deal would harm competition in the domestic beverage market, should publicly disclose how it reached that conclusion, said Guan Anping, a former Chinese trade official, who's also taught anti-monopoly law at Beijing's Capital University of Economics and Business.

Read more on Bloomberg

Suggest a correction