MOFCOM probes and punishment for unfiled business concentrations

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In September 2015, the Ministry of Commerce (MOFCOM) announced its punishments against four transactions of concentration of business operators for which no filing has been made. Pursuant to relevant laws and drawing from past experiences, this article aims to analyze, collate and summarize MOFCOM’s practices in this regard.

Launching investigation. It can be seen from the four cases that MOFCOM has several methods for obtaining leads on unfiled cases of concentration of business operators and initiating investigation, including self-discovery, third-party tip-off and voluntary reporting by the businesses involved.

In the case of the acquisition of 35% equity in Shenzhen Chino-E Communication by Fujian Electronics and Information (Group) (Case 1), the acquirer filed for a subsequent transaction to MOFCOM according to simplified procedures. During the public comment period required under simplified procedures, MOFCOM received a tip-off by a third party that the acquirer failed to file for the prior acquisition transaction.

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Jet Deng Zhisong is a partner of Dacheng Law Offices in Beijing. He can be contacted on +86 10 5813 7038 or by email at zhisong.deng@dachenglaw.com

Ken Dai Jianmin is a partner of Dacheng Law Offices in Shanghai. He can be contacted on +86 21 5878 1965 or by email at jianmin.dai@dachenglaw.com