The EC competition directorate has formally approved the takeover of OOCL by China’s Cosco, despite investigators finding it would hold a “very significant” market share of transatlantic trade.
The decision follows that of US regulators in October, who approved the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act, and also appeared unconcerned by Cosco’s state-owned status.
Despite a partial listing on the Shanghai and Hong Kong stock exchanges, Cosco is ultimately controlled by Central SASAC, the …
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Source: The Loadstar