Mr Gordon Siu
Secretary for Economic Services
Economic Services Branch
Central Government Offices
Lower Albert Road
Hong Kong
HKB 121/10
RECHT
2
DESK Qirt INDEX
3
PA
ISTRY
REGISTRY Action Taken
BY FAX
Direct line 071 215 5329
Our ref NL 4/07
Your ref
Date
14 May 1993
Dear Mr Siu
При вил ѝ fi е & 175
Department of Trade and Industry
Kingsgate House
66-74 Victoria Street London SWIE 6SW
Enquiries
071-215 5000
Telex 8813148 DIHQ G
Fax 071-931 0397
US ANTI-TRUST NOTIFICATION: PROPOSED ACQUISITION OF MAJORITY SHARE IN G.M. PFAFF AG (GERMANY) BY SEMI-TECH (GLOBAL) CO. LTD. (HONG KONG)
We have received a notification from the US Embassy in London that the US Federal Trade Commission (FTC) has commenced an investigation into the proposed acquisition of a majority share in G.M. Pfaff AG, a German company, by Semi-Tech (Global) Co. Ltd, a Hong Kong company.
I enclose a copy of this
notification, for your information.
2 We have been notified of this investigation in accordance with the 1986 OECD Recommendation on the Notification of Restrictive Business Practices Investigations.
The Recommendation provides for arrangements for consultation and notification of antitrust actions by one Member State of the OECD involving the interests of another Member State.
3 You may be aware that the UK Government objects to the unwarranted assertion of extraterritorial jurisdiction by other countries, in particular the US. The US anti-trust authorities can, for example, seek
seek to exercise jurisdiction outside US territory merely because activities may have an "effect" within the US ("the effects doctrine"). While there does not appear be a direct UK interest in this case,
this case, since no UK companies appear to be involved, we do not have enough information on which to ascertain whether or not this case might involve wider policy issues for the UK Government. If we consider that this case does touch on our wider policy interests, we shall wish to consider with you how best to make our views known to the US.
4 In order to help us to understand better the interest of the FTC in the proposed acquisition, we have asked them to provide additional information about the investigation and, in
dti
the department for Enterprise
Roved Paper
3
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