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Wednesday, 24 August 2011 - China says Google has not sought approval on Motorola |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? 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Credit: Reuters/Brendan McDermid BEIJING | Wed Aug 24, 2011 3:43am EDT BEIJING (Reuters) - China's Commerce Ministry said it had not received an application for regulatory approval from Google Inc on its planned $12.5 billion purchase of Motorola Mobility Holdings. Under Chinese laws, enterprises that run businesses in China and that earn annual revenues of 10 billion yuan ($1.55 billion) globally and 400 million yuan in China must seek government approval for a proposed acquisition. "The ministry has so far not received any application for an anti-monopoly review," Shen Danyang, a spokesman at China's Commerce Ministry, said in response to the Google-Motorola deal. He added, however, that the ministry has got an application and is reviewing Yum Brands Inc's offer to buy China's hot pot chain Little Sheep. Yum announced in May it had offered to buy control of China's Little Sheep for $586 million. Yum's offer will take its stake to 93.2 percent from 27.2 percent. Google reiterated on Wednesday what it said in its statement that the deal is subject to regulatory approvals in the United States, the European Union and other jurisdictions. (Reporting by Langi Chiang and Koh Gui Qing; Editing by Jacqueline Wong and Ken Wills) Technology Deals Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (3) breezinthru wrote: Shrewd Aug 23, 2011 12:40am EDT  --  Report as abuse breezinthru wrote: Shrewd Aug 23, 2011 12:40am EDT  --  Report as abuse sweettea wrote: China is an economic imperialist nation. Just look at what they do in Africa. Also look at how they didn’t veto any NATO action in Libya, waited to see who was going to win, and then demand that the UN get involved and allow China to help rebuild and get the oil. China is the dirty face of capitalism, and they are not to be trusted. Aug 24, 2011 2:16am EDT  --  Report as abuse See All Comments » Add Your Comment Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Mobile Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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