Counsel in Hong Kong are disappointed that a comprehensive
merger regime will not be incorporated into the new competition
policy which should take full effect next month.
The substantive provisions of the Hong Kong Competition
Ordinance, which was passed in June 2012, is widely expected to
be voted into law on December 14. All local commercial entities
would be brought within its ambit.
But counsel are disillusioned by the lack of progress
regarding the merger regime under the ordinance, which remains
applicable only to mergers involving telecommunications carrier
"The absence of a merger rule applying across sectors
renders the legislative arsenal incomplete," said Clara
Ingen-Housz, partner at Linklaters in Hong Kong. "It may also
increase the burden...