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Coke can't buy Huiyuan

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Coke can't buy Huiyuan

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The Chinese Ministry of Commerce has rejected Coca-Cola’s attempt to buy top juice maker Huiyuan.

The ministry said the takeover would be bad for competition as the two companies combined would have dominated China’s juice market. Analysts said the ruling smacked of protectionism and has confirmed that China remains unwilling to allow the takeover of a national brand. They said it could have an adverse effect on Chinese companies’ plans to make acquisitions overseas.