China said it plans to review
offer buy China Huiyuan Juice Group, a Hong Kong-listed company, in a $2.4 billion deal that would expand Coke's reach in the world's most populated nation.
A spokesman for China's Commerce Ministry was quoted by the government's Xinhua News Agency as saying China promised to review the offer as soon as Coca-Cola submits an application, the
reported. Coca-Cola hasn't said when it will ask China for approval.
The offer will be reviewed "based on market economy principles and the law -- opposing monopoly, but supporting regular market operation," Xinhua said, citing ministry spokesman Yao Shenhong, the AP reported.
Atlanta-based Coca-Cola has been operating a business in China since 1979. The company sells its namesake brand, Sprite, Fanta and other drinks, including Guo Li Chen and Yuan Ye, in China.
This article was written by a staff member of TheStreet.com.