Legislation Antitrust

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  • WASHINGTON, Nov 12- Two U.S. consumer groups announced the formation of a coalition with New York labor unions on Thursday to press antitrust regulators to oppose big insurance mergers that would cut the number of nationwide for-profit health insurers from five to three. The Coalition to Preserve Patient Choice, made up of the Consumer Federation of America,...

  • SYDNEY, Nov 10- The battle for Australian stevedoring and rail giant Asciano Ltd escalated on Tuesday after ports firm Qube Holdings Ltd made a $6.3 billion offer that narrowly beats a rival bid and is expected to draw less concern from antitrust regulators. Qube, led by Chris Corrigan who ran Asciano's port unit for 16 years, made an informal cash and scrip offer...

  • WASHINGTON, Nov 9- The government argued Monday that U.S. consumers would pay 5 percent more for ranges and wall ovens if AB Electrolux was allowed to buy General Electric's appliance business but the companies accused antitrust enforcers of failing to acknowledge powerful and growing competition from overseas manufacturers. The Department of Justice...

  • MEXICO CITY, Nov 6- Mexican phone company Telmex said on Friday it has knowledge of a supreme court decision that denies its request for an injunction on a 638.1 million peso anti-trust penalty from 2013, the company said in a statement. Telmex, the fixed-line phone company controlled by billionaire Carlos Slim, said it has yet to be formally notified of the...

  • TEL AVIV, Nov 5- Israel's Cellcom agreed on Thursday to buy smaller low-cost mobile phone rival Golan Telecom for 1.17 billion shekels but political opposition swiftly threatened the deal. Finance Minister Moshe Kahlon voiced strong opposition to the takeover of French-owned Golan in a letter to the country's acting anti-trust regulator.

  • European Competition Commissioner Margrethe Vestager said that while some agencies enjoyed the same powers as the European Commission, a number lacked some essential tools to deter anti-competitive practices. Austria, Germany, Estonia, Finland, France, Ireland, Sweden and Slovakia, for example, have limited powers to gather evidence of wrongdoing from...

  • BRUSSELS, Nov 3- Google has hit back at EU antitrust regulators' warning of a possible hefty fine, saying this would be inappropriate because of the unusual nature of the case and its willingness to settle the case with concessions last year. In its reply to the European Commission's April charge sheet, the world's most popular search engine also faulted...

  • BEIJING/ SHANGHAI, Nov 3- China's second-largest e-commerce company JD.com Inc said it has sent a letter of complaint to a Chinese antitrust regulator and formally requested an investigation into rival Alibaba Group Holding. JD.com said in its letter that it has received information from merchants indicating that Alibaba, which dominates Chinese...

  • SHANGHAI, Nov 3- China's Alibaba Group Holding Ltd "strongly denies" accusations that the country's second-largest e-commerce company JD.com Inc made in a letter of complaint it sent to a Chinese anti-trust regulator. "We strongly deny the accusations," Alibaba spokesman Rico Ngai said. "Alibaba welcomes competition as it benefits consumers, merchants and...

  • BEIJING/ SHANGHAI, Nov 3- China's second-largest e-commerce company JD.com Inc said it has sent a letter of complaint to a Chinese anti-trust regulator and formally requested an investigation into rival Alibaba Group Holding Ltd. JD.com said in its letter it has received information from merchants indicating that Alibaba is "forcing merchants" to choose to...

  • BEIJING, Nov 3- China's JD.com Inc has filed a complaint with a Chinese anti-trust regulator concerning rival Alibaba Group Holding Ltd, the country's No.2 e-commerce platform said on its official microblog on Tuesday. The complaint concerns a State Administration for Industry and Commerce regulation which forbids e-commerce platforms from limiting or...

  • BRUSSELS, Nov 3- U.S. chipmaker Avago Technologies is set to win unconditional EU antitrust approval for its proposed $37 billion takeover of Broadcom Corp, two people familiar with the matter said on Tuesday. Avago serves the wireless and industrial markets while Broadcom's connectivity chips are used widely in smartphones made by Apple and Samsung...

  • NEW YORK, Nov 2- Barclays Plc agreed to pay $94 million to settle U.S. antitrust litigation in which investors accused 11 banks of conspiring to manipulate the benchmark European Interbank Offered Rate and related derivatives. Kenneth Feinberg, a prominent mediator who helped broker the accord, said in an affidavit "this first and early settlement with...

  • NEW YORK, Nov 2- Barclays Plc agreed to pay $94 million to settle U.S. antitrust litigation by investors that accused 11 banks of conspiring to manipulate the benchmark European Interbank Offered Rate and related derivatives. Kenneth Feinberg, a prominent mediator who helped broker the accord, said in an affidavit "this first and early settlement with Barclays...

  • BRUSSELS, Oct 30- EU antitrust regulators have launched a full investigation into Hutchison Whampoa's 10.3- billion-pound bid for British mobile operator O2, concerned that the deal may push up prices. The European Commission has signalled a tougher line on telecoms mergers, putting it on a collision course with the companies who argue they need to...

  • WASHINGTON, Oct 29- U.S. antitrust regulators could push Valeant Pharmaceuticals International Inc to sell part of its specialty contact lens materials business so it would lose the market dominance it built through two acquisitions, antitrust attorneys said. The U.S. Federal Trade Commission is investigating the Canadian drugmaker's purchase of Paragon...

  • *Walgreens, Rite Aid have overlap in northeastern U.S.- analysts. Walgreens ranks first and Rite Aid third by number of stores, either side of CVS Health Corp.. Several analysts and antitrust lawyers said the deal would probably pass regulatory muster provided some stores were divested, especially in the northeastern United States, where Walgreens and Rite Aid...

  • *Union frets about job losses in South Africa. JOHANNESBURG, Oct 19- Belgian brewer Anheuser-Busch InBev may have won over peer SABMiller, but the $100 billion- plus deal could face delays in South Africa, where the now British company began selling its ubiquitous Castle Lager 120 years ago. But that might not be easy in South Africa, where the mandate for anti-trust...

  • *Union frets about job losses in South Africa. JOHANNESBURG, Oct 19- Belgian brewer Anheuser-Busch InBev may have won over peer SABMiller, but the $100 billion- plus deal could face delays in South Africa, where the now British company began selling its ubiquitous Castle Lager 120 years ago. But that might not be easy in South Africa, where the mandate for anti-trust...

  • *Brookfield working with regulator to address concerns. SYDNEY, Oct 15- An Australian regulator raised antitrust concerns over a planned $6.5 billion takeover by Canada's Brookfield Asset Management of freight firm Asciano Ltd, potentially jeopardizing the country's biggest inbound deal in four years. Asciano shares fell 8 percent to A $7.89 by...