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CHINA

China rejects Coca-Cola takeover of juice maker

1 min

China has rejected a plan by Coca-Cola to take over the nation's top juice maker Huiyuan, based on anti-monopoly legislation. The 2.4-billion-dollar acquisition would produce "a negative influence on competition," the ministry said.

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APF - China has rejected a plan by Coca-Cola to take over the nation's top juice maker Huiyuan, based on anti-monopoly legislation, the commerce ministry said Wednesday.

The acquisition would produce "a negative influence on competition," the ministry said in a statement.

The 2.4-billion-dollar deal, which would have been the largest-ever foreign acquisition of a Chinese company, was seen as a major first test of how China would apply its new anti-monopoly law.
 

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