• New Merger Approval Process for Hong Kong's Telecommunications Sector
  • October 29, 2003 | Author: Michael Reede
  • Law Firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP - Hong Kong Office
  • Mergers and acquisitions in the Hong Kong telecommunications sector may now be unwound by the regulator if they are found to be anti-competitive and have not been previously approved. Transactions crossing specified voting control thresholds in "carrier licensees" will be assessed against a "substantial lessening of competition" test, the first such form of regulation to be found in any sector of the Hong Kong Special Administrative Region ("HKSAR") economy.