Posted on 12/02/2001 4:30:05 AM PST by The Kitten
The European Commission has conditionally approved Hutchison Whampoa's acquisition of a controlling interest in Europe's premier container handling facility at the port of Rotterdam.
Subsidiary Hutchison Port Holdings notified the commission last month of its intention to increase its 35 per cent stake in European Combined Terminals, but approval was delayed due to anti-competition concerns.
"They didn't want Hutchison to control all of northern Europe's deep-water ports," said an analyst.
Hutchison Port owns 90 per cent of the container terminals at Felixstowe and Thamesport in Britain, both of which are capable of handling the largest box-ships.
As Europe has limited deep-water facilities, the commission delayed approval to investigate whether Hutchison Port's control of the terminal would lead to a domination of northern Europe's intercontinental container volumes.
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