China antitrust update: First case requesting restoration to pre-concentration status

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On 24 July 2021, the State Administration for Market Regulation (SAMR) of the People’s Republic of China (PRC) made and announced an administrative penalty decision in the case concerning the illegal concentration of undertakings arising from Tencent Holdings Limited’s (Tencent) acquisition of shares of China Music Corporation (CMC).

This alert will briefly analyze this recent case to raise awareness of the importance of complying with AML provisions during mergers and acquisitions (M&A) in the PRC. It will also propose changes for AML enforcement practices in the PRC.