TNAG-2760-FCO40-3977-Hong-Kong-United-States-anti-trust-notification-1993 — Page 32

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Mr E Whitehorn

Head, CP5

Office of Fair Trading

Field House Breams Buildings

London

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RECEIVED IN YEGISTRY

2 MAY

for Whitrey,

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Department of Trade and Industry

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66-74 Victoria Street

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Date 26th April 1993

mes to the bus if tk, I think it

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appropriate person

Dear Mr. Whitehorses. In 20/4.

he the Secretary for Exenomic

US ANTI-TRUST NOTIFICATION: PROPOSED ACQUISITION OF MAJORITY SHARE IN G.M. PFAFF AG (GERMANY) BY SEMI-TECH (GLOBAL) CO. LTD.

(HONG KONG)

I attach a notification from the US Embassy made in accordance with the 1986 OECD recommendation on notification of restrictive business practices investigations. This gives notice of an investigation by the US Federal Trade Commission (FTC) into the proposed acquisition of 51% of G.M. Pfaff, a German company, by Semi-Tech of Hong Kong.

This notification is a little unusual in two ways. Firstly, neither of the companies involved is based in the US - although both have US subsidiaries; and secondly, there is no direct connection to the UK. We have presumably been notified of the FTC investigation because of the UK's responsibility for Hong Kong's external relations.

I would be grateful for advice from you and Ms Turners' on whether we (or the Commission) have any interest in this proposed merger; and also, either from you or from Mr Cox, on whether Hong Kong has its own competition legislation. Would Mr Cox also consider, please, if it would be appropriate to write to the Hong Kong Government in order to notify them of our views on such investigations, and, if so, to whom we should write.

We will be seeking an undertaking from the US authorities that any information requested from Semi-Tech will be on a strictly voluntary basis. This not clear from the letter.

Mr whimney I've checked there laws - nothing & Shelagh Brooks & HAGO could not help either

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Ik Sec.

a to inform him generally.

MOB.

legal adviser re

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parallel legislation

for Economic Service's on whether thy have any interest in Jemi Tech.

dti

28 ·4

the department for Enterprise

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