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汇业观察 OBSERVATION 卓越不是一种行为,而是一种习惯

本 期 主 题 | 反 垄 断 法 律 服 务 Ⅱ www.huiyelaw.com 汇业律师事务所 2012 年 03 月刊总第 119 期


汇业观察编辑部 编辑中心: 主

编:吴

汇 业 动 态 冬

副主编 : 黄金鹏 黄春林

汇业成为上海股权托管中心专业机构会员 ................3

设计制作:丁 吟 发行制作:汇业信息中心

法 治 热 点 顾 问: 杨国胜 赵曙东 吴

汪兆军 王树军 魏青松

道路交通事故损害赔偿司法解释征求意见 ................4 《刑事诉讼法》修订后发布 ..........................................4

廖明涛 杨艳辉 黄金鹏 健 余承志 周开畅

《网络零售管理条例》征求意见 ..................................5

张正松 潘志成 林晓静

《著作权法》修改草案公开征求意见 ..........................5

蔡蕴华 杨

杰 邱加化

内部非公开发行资料

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最新反垄断政策与实务Ⅱ 文章提供 / 潘志成 博士 商务部附条件批准西部数据收购日立存储 ................6 商务部批准汉高香港与天德化工组建合营企业 ........8

邮箱:Obse@huiyelaw.com 《未依法申报经营者集中调查处理办法》实施 ..........9 本资料所列信息仅供参考,不 应被视为读者 / 受众与汇业建立了 律师客户关系或汇业就特定事项提 供了法律意见。读者 / 受众应向律 师咨询以获得专业法律意见。

商务部实施外资者并购境内企业安全审查制度 ......11 商务部批准希捷收购三星硬盘驱动器业务 ..............13


第 119 期 2012 年 3 月刊

汇 业动态

汇业成为上海股权托管交易中心专业服务机构会员

2012 年 3 月,汇业律师事务所正式成为 上海股权托管交易中心(以下简称“上海股 交中心”)专业服务机构会员。

上海股交中心是上海市国际金融中心建 设的重要组成部分,也是中国多层次资本市 场体系建设的重要环节。上海股交中心为挂 牌企业提供定向增资、重组购并、股份转让、 汇业律师事务所组成以王树军、蔡蕴华、 价值挖掘、营销宣传等服务,另外还努力为 潘志成和张正松为核心的团队,将为上海乃 挂牌企业实现转主板、中小板、创业板上市 至全国准备在上海股交中心挂牌的企业提供 和新三板挂牌发挥培育、辅导和促进作用。 法律服务。 汇业律师事务所被授予股权托管法律服务联 络人。

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

法制热点

道路交通事故损害赔偿司法 解释征求意见

《刑事诉讼法》修订后发布 十一届全国人大五次会议 3 月 14 日表 决通过关于修改刑事诉讼法的决定,自 2013 年 1 月 1 日起施行。 与修改前相比,修改后的刑事诉讼法条 款从 225 条增加到 290 条,分为“总则”“立 案、侦查和提起公诉”“审判”“执行”“特 别程序”以及“附则”。

为正确审理道路交通事故损害赔偿案 件,最高人民法院 3 月 20 日发布《关于审理 道路交通事故损害赔偿案件适用法律若干问 题的解释(征求意见稿)》,向社会公开征 求意见和建议。

修改后的刑事诉讼法,将“尊重和保障 人权”明确写入了总则。法律修改内容还涉 及证据制度、强制措施、辩护制度、侦查措施、 审判程序、执行程序等,并增加规定特别程 序。 更多内容请咨询汪兆军律师 汇业争议 解决服务团队:zhaojun.wang@huiyelaw.com

就损害赔偿责任认定问题,征求意见稿 规定,人民法院应在综合分析交通管理部门 依法制作的交通事故认定书、交通事故现场 照片、鉴定结论、勘查笔录、影像数据及其 他证据的基础上,根据机动车交通事故各方 当事人的过错及原因力等因素认定各自的损 害赔偿责任。有充分证据足以推翻公安机关 交通管理部门制作的交通事故认定书的,人 民法院应确认其证明力。 征求意见稿还就道路交通安全法第 七十六条规定的“人身伤亡”、“财产损失” 的范围、基本医疗保险范围外的医疗项目支 出、第三者责任强制保险的投保义务人、多 辆机动车发生交通事故造成损害而部分机动 车未投保第三者责任强制保险等复杂问题作 出了明确规定。 更多内容请咨询赵曙东律师 汇业争议 解决服务团队:shudong.zhao@huiyelaw.com

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

法制热点

《网络零售管理条例》 征求意见

《著作权法》修改草案 公开征求意见

商务部新闻发言人沈丹阳 3 月 15 日表 示,商务部正在起草并推动《网络零售管理 条例》尽快出台,目前已经进入征求意见环 节。 据悉,条例具体内容大致分为 : 基本原 则、监管体制、网络零售经营者的经营资格、 信息披露义务、第三方交易平台的市场准入、 消费者保护 , 比如消费者的知情权和规定消 费者的保护期制度等等。 值得注意的是,商务部正在征求意见的 《网络零售管理条例》草案对第三方交易平 台并没有强制规定要先行赔付。 更多内容请咨询黄春林律师 汇业互联 网服务团队:ramon.huang@huiyelaw.com

《中华人民共和国著作权法》( 修改草 案 ) 近日向社会公开征集意见引发热议。 在草案中对篇章结构和体例进行了调 整,草案共八章、八十八条,其主要修改内 容是:第一章总则保持不变;第二章著作权 删去 " 权利的限制 " 一节;将现行法第四章 " 出版、表演、录音录像、播放 " 删去许可 使用等内容后提前至第三章,并更名为 " 相 关权 ";将现行法第二章中的 " 权利的限制 " 一节单列为第四章,理由是权利的限制既及 于著作权也及于相关权,著作权一章无法完 全涵盖;将现行法第三章 " 著作权许可使用 和转让合同 " 更名为 " 权利的行使 " 作为第 五章;将技术保护措施和权利管理信息单列 为第六章,理由是其他章节无法涵盖其内容; 将现行法第五章 " 法律责任和执法措施 " 更 名为 " 权利的保护 " 作为第七章;第八章附 则保持不变。 更多内容请咨询林晓静律师 汇业知识 产权团队:maggie.lin@huiyelaw.com

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

最新反垄断政策与实务Ⅱ 文章提供 / 潘志成 博士 汇业反垄断法律服务中心主任 2009-2010 年美国波士顿大学法学院访问学者

商务部附条件批准西部数据收购 日立存储 2012 年 3 月 2 日, 商 务 部 发 布 公 告, 附条件批准了西部数据收购日立存储的经 营者集中申报。西部数据是从事硬盘等数 字 存 储 产 品 的 生 产 和 销 售 企 业,Viviti Technologies Ltd( 日立公司全资子公司 , 以下简称 Viviti 公司 ) 则通过控股日立存储 从事硬盘业务,在该收购案中,西部数据将 收购 Viviti 公司的全部股权。商务部在该 第 9 号公告中称,考虑到硬盘市场本身的特 点、采购模式、产品创新、市场进入、买方 议价能力和对相关市场与消费者的影响等因 素,商务部认为此项集中将对硬盘市场产生 排除、限制竞争的效果。

MOFCOM Approved the Acquisition of Hitachi Global Storage by Western Digital with Restrictive Conditions Attached On March 2nd, 2012, MOFCOM announced that it had approved the acquisition of Hitachi Global Storage by Western Digital with restrictive conditions attached. Western Digital is an enterprise that manufactures and sells digital storage products. Viviti Technologies Ltd. (wholly-owned subsidiary of Hitachi, hereinafter referred to as “Viviti”) holds the shares of Hitachi Global Storage Technologies which also engages in HDD business. In this acquisition case, Western Digital intended to acquire all the shares of Viviti. In its No.9 announcement of 2012, MOFCOM stated that considering the situation of the HDD market,purchase mode, capacity utilization, product innovation, the buyer’s bargaining power, market entrance, and the impact of this concentration on consumers, it believed this acquisition would eliminate or restrict competition on the HDD market.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

为此,申报人先后提出了多个解决方案, 并提交了欧盟附条件批准该集中的文件。商 务部最终附条件批准了该项经营者集中,所 附加的限制性条件包括:1)维持 Viviti 公 司作为一个独立的竞争者存在;2)根据市场 需求状况合理确定产能产量;3)不得实质性 改变此前的商业模式,强制或变相强制客户 从两公司排他性地采购其硬盘产品;4)继续 在创新领域投入研发资金;5)在 6 个月内向 第三方剥离 Viviti 公司主要 3.5 英寸硬盘资 产。

In order to solve the competitive concerns, the applicant put forward several solutions, and also submitted to MOFCOM the EU conditional approval of this acquisition. In view of the above, MOFCOM approved this acquisition with the following conditions attached: 1) maintain Viviti as an independent competitor in the relevant market; 2) Western Digital and Viviti shall reasonably determine production capacity and output based upon market demands; 3) Western Digital and Viviti shall not substantially change their previous business mode, or compel or disguisedly compel customers

我 们 注 意 到, 在 本 案 中, 西 部 数 据 于 2011 年 4 月 2 日向商务部提交了经营者集中

to exclusively purchase HDD products from the

反垄断审查的申报。商务部经过初步审查、 进一步审查之后,进入延期审查阶段。西部 数据于 2011 年 11 月 1 日在延期审查期限即 将结束前,以事实发生重大变更为由申请撤 回了申报。2011 年 11 月 7 日,西部数据就 该并购案重新向商务部进行了申报,而商务 部重新依次进行了初步审查、进一步审查, 并未直接进入延期审查阶段,最终于 2012 年 3 月 2 日作出审查决定。从商务部在本案中 的执法实践我们可以看出,经营者集中反垄 断审查案件的申报人如果在撤回申报之后重 新申报,商务部可能将重新开始各阶段的审 查,而非直接进入撤回申报之日该申报案所 处的审查阶段。

continue to invest in the R&D as they have done

two companies; 4) Western Digital and Viviti shall in recent years; 5) Western Digital shall divest the major 3.5 inch HDD assets of Viviti within six months. We noticed that in this case Western Digital submitted its application to MOFCOM for antimonopoly review on April 2nd, 2011. MOFCOM had gone through its phase I and phase II review stages and had entered into the extended review stage. However, Western Digital withdrew its application on November 1st, 2011, just before the expiration date of the extended review stage. On November 7th, 2011, Western Digital submitted its application again to MOFCOM. MOFCOM restarted its Phase I and Phase II review stages for this application case, instead of directly entering into extended review stage, and announced its decision on March 2nd, 2012. From MOFCOM's enforcement practices in this case, we may concluded that if an applicant withdraws its application from and submits its application again to MOFCOM, MOFCOM probably will restart its Phase I, Phase II and possible extended review stages, instead of directly entering into the stage where the applicant withdraws its application.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

商务部附条件批准汉高香港与天 德化工组建合营企业 2012 年 2 月 9 日,商务部发布公告,附 条件批准汉高香港控股有限公司与天德化工 控股有限公司组建合营企业的经营者集中申 报。商务部在该 2012 年第 6 号公告中称,天 德化工是氰乙酸乙酯(上游产品)的两大供 应商之一,具有较强的市场控制力;汉高股 份在氰基丙烯酸酯单体(中游产品)市场和 粘合剂(下游产品)市场具备品牌、技术、 资金和人才优势。二者拟设立的合营企业生 产氰基丙烯酸酯单体,所需原料约占天德化 工产能的四分之一。商务部认为,天德化工 作为上游可能会对合营企业和其他氰基丙烯 酸酯单体生产企业采取区别性的供给策略, 对氰基丙烯酸酯单体市场产生排除、限制竞 争的影响。 为此,商务部附条件批准了该项经营者集中, 所附加的限制性条件主要包括:1)天德化工 应基于公允、合理和不歧视的原则,向下游 所有客户供应氰乙酸乙酯,包括不得沟通竞 争性信息;2)应及时向商务部汇报,并委托 独立的监督受托人进行监督。

MOFCOM Approved the Joint Venture Formed by Henkel (Hong Kong) and Tiande Chemical with Conditions Attached On February 9th, 2012, MOFCOM announced that it had approved the joint venture formed by Henkel Hong Kong Holding Limited and Tiande Chemical Holding Limitd with restrictive conditions attached. MOFCOM stated in its No.6 Announcement of 2012 that Tiande is one of the two major suppliers of ethyl cyanoacetate (upstream products), which make it has strong market power. Henkel on the other hand has the advantages with the brand, technology, capital and talent in the cyanoacrylate monomer (middle products) market and adhesives (downstream products) market. The joint venture formed by Henkel and Diande will produce the cyanoacrylate monomer products, which will consume one quarter of the total raw materials produced by Tiande. MOFCOM held that Tiande would discriminate other companies with different supply strategy which may result in eliminating or restricting competitions on the cyanoacrylate monomer market. In view of the above, MOFCOM approved the proposed joint venture with the following restrictive conditions attached: 1) Tiande should supply its products to other companies on fair, reasonable and non-discrimination basis; 2) the joint venture formed should report promptly to the MOFCOM and independent supervision trustees about its performance.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

本案为商务部公告的第二起以组建合营 企业方式进行集中的案件,而另一起是 2011 年第 74 号公告所公布的通用电气(中国)与 中国神华煤制油化工合营案。对于组建合营 企业是否属于经营者集中,在学术界和实务 界还有争议,但从商务部的实践可以看出, 组建合营企业也被作为经营者集中进行审 查。然而,针对合营企业的审查标准是否与 并购方式的经营者集中存在区别,商务部在 相关案件公告中并未说明。对于企业而言, 今后在组建合营企业时,亦需要考虑应对经 营者集中反垄断审查。

This case is the second joint venture case announced by MOFCOM on which it conducted anti-monopoly review. The other case is the joint venture formed by GE and Shenhua, with which MOFCOM announced its decision in the No.74 announcement of 2011. Concerning whether forming of joint venture shall be treated as business concentration, there is no consensus among the academic scholars as well as among professionals yet. However, as these two cases shows, MOFCOM in practice treats the forming of joint venture as business concentration. On the other hand, whether the examination standard applied to the forming of joint venture shall be different from the standards applied to merger and acquisition cases, MOFCOM did not give its explanation in its decisions. For the enterprises who intend to form joint venture in future, they need to consider and prepare to deal with the possible anti-monopoly review conducted by MOFCOM.

《未依法申报经营者集中调查处 理暂行办法》开始实施 2012 年 2 月 1 日,商务部颁布的《未依 法申报经营者集中调查处理暂行办法》正式 生效开始实施。根据该《办法》,所谓为依 法申报经营者集中是指经营者集中达到《国 务院关于经营者集中申报标准的规定》所设 定的申报标准,但经营者未依照《中华人民 共和国反垄断法》的规定事先向商务部申报 而实施的集中。

The Interim Measures for Investigating and Handling the Un-notified Concentration Come into Force On February 1st, 2012, The Interim Measures for Investigating and Handling Un-notified Concentration issued by MOFCOM come into force. According to the Measures, un-notified concentration refers to the concentration which satisfies the threshold provided by the State Council's Regulation on the Threshold for Concentration Notification, but for which the business operators fail to notify the review agency (MOFCOM) in accordance with the procedure provided by the Anti-Monopoly Law of P.R.C..

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

该《办法》规定,商务部可以通过自行 调查或通过他人举报,立案调查涉嫌未依法 申报的经营者集中。被调查的经营者应在收 到立案通知之日起 30 日内向商务部提交文件 和资料,说明被调查交易是否属于经营者集 中、是否达到申报标准以及是否已经实施且 未申报。

The Measures provide that MOFCOM may file an case to investigate a suspected un-notified concentration through self investigation or through report filed by other parties. The business operators being investigated should submit documents and materials within 30 days after receiving the case filing notice sent by MOFCOM, in order to prove whether the suspected transaction belongs to

商务部应自收到被调查经营者的文件和 资料后 60 日内完成对未依法申报经营者集 中完成初步调查。如果不属于未依法申报经 营者集中则通知经营者停止调查,如果属于 未依法申报经营者集中则应进一步调查,并 通知经营者暂停实施集中。如果商务部通知 经营者实施进一步调查,则经营者应自收到 通知之日起 30 日内按《经营者集中申报办 法》向商务部提交经营者集中申报的文件和 资料。商务部应自收到经营者提交的文件和 资料之日起 180 日内完成进一步调查,并对 被调查的交易是否具有排除、限制竞争的效 果进行审查评估。

concentration, whether the transaction satisfies the threshold for notification, and whether the transaction has been implemented without notification. MOFCOM should complete its initial investigation within 60 days after receiving the documents and materials submitted by the business operators. If such transaction does not belong to un-notified concentration, the investigation should be closed and the business operators should be notified. If such transaction belongs to un-notified concentration, further investigation should be conducted and the business operator should be notified to suspend their transaction. After receiving further investigation notice, the business operators should within 30 days submit documents and materials in accordance with The Measures for Notifying Concentration, and MOFCOM should within 180 days examine such concentration and decide whether such concentration would eliminate or restrict competition.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

该《办法》规定,经调查认定被调查的 经营者未依法申报而实施集中的,商务部可 以对被调查的经营者处 50 万元以下的罚款, 并可责令被调查的经营者采取以下措施恢复 到集中前的状态:1)停止实施集中;2)限 期处分股份或资产;3)限期转让营业;4) 其他必要措施。

The Measures also provide that if a transaction is determined as un-notified concentration, MOFCOM may impose a fine less than 500,000 RMB, and may also order the business operators to resume the lost competition by: 1) stop concentration; 2) dispose shares or assets within limited time; 3) transfer business within limited time; 4) other measures.

我们注意到,该《办法》并未规定未依 法申报的经营者集中必须进行处罚,而是规 定商务部可以酌情处以 50 万元以下的罚款。 该《办法》是否能有效阻吓未依法申报的经 营者集中还有待进一步观察。

We notice that the Measures do not provide that MOFCOM must punish the un-notified concentration, but only provide that MOFCOM may impose a fine less than 500,000 RMB. We will continue to watch whether such measures could effectively deter the un-notified concentration.

商务部颁布实施外国投资者并购 境内企业安全审查制度的规定 近日,商务部发布 2011 年第 53 号公告, 正式颁布《商务部实施外国投资者并购境内 企业安全审查制度的规定》,该规定于 2011 年 9 月 1 日开始实施。

MOFCOM Announces Provisions on Implementation of Security Review System for Mergers and Acquisitions of Domestic Enterprises by Foreign Investors Recently, the Ministry of Commerce published its No.53 Announcement of 2011, formally promulgated its Provisions on the Implementation of the Security Review System for the Mergers and Acquisitions of Domestic Enterprises by Foreign Investors. This formal provisions came into force from September 1st, 2011.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

2011 年 2 月,国务院办公厅发布了《关 于建立外国投资者并购境内企业安全审查制 度的通知》,要求对外国投资者并购的境内 军工及军工配套企业、重点、敏感军事设施 周边企业、以及关系国防安全的其他单位、 关系国家安全的重要农产品、重要能源和资 源、重要基础设施、重要运输服务、关键技术、 重大装备制造等企业进行安全审查。为此, 商务部曾于 2011 年 3 月发布《商务部实施外 国投资者并购境内企业安全审查制度的暂行 规定》。

In February, 2011, the General Office of the State Council announced the Notice on the Establishment of the Security Review System for the Mergers and Acquisitions of Domestic Enterprises by Foreign Investors, in which it requires to conduct security review for all the mergers and acquisitions of domestic enterprises by foreign investors if the enterprises are military industrial enterprises, or supportive military industrial enterprises, enterprises surrounding major and sensitive military facilities, or other entities relating to the national defense security, relating to important agricultural products, important

本次正式颁布的规定与暂行规定相比, 在以下两个方面存在不同:首先,在第四条 中明确了安全审查正式申请前的预约商谈不 是提交正式申请的必经程序,商谈情况不具 有约束力和法律效力,不作为提交正式申请 的依据;其次,在第九条中规定对于外国投 资者并购境内企业,应从交易的实质内容和 实际影响来判断并购交易是否属于并购安全 审查的范围;外国投资者不得以任何方式实 质规避并购安全审查,包括但不限于代持、 信托、多层次再投资、租赁、贷款、协议控制、 境外交易等方式。

energies and resources, important infrastructural facilities, important transportation services, key technologies, manufacturing of major equipment, etc.. Based upon this notice, MOFCOM announced its Interim Provisions on the Implementation of the Security Review System for the Mergers and Acquisitions of Domestic Enterprises by Foreign Investors in March 2011. Compared with the interim provisions, this formal provisions has the following two changes: First of all, in article 4, it clarifies that the advance consultation with the MOFCOM is not a necessary procedure for filing a formal application, and the consultation results do not have any binding force or legal effect and do not serve as a basis for filing a formal application; Secondly, in article 9, it states that whether a merger or acquisition of a domestic enterprise by a foreign investor falls within the scope of merger and acquisition security review shall be determined from the substance and actual impact of the transaction. No foreign investor shall substantially evade the merger and acquisition security review in any form, including but not limited to holding shares on behalf of others, trust, multi-level reinvestment, leasing, loans, agreementbased control and overseas transactions.

汇业观察

Huiye Observation

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第 119 期 2012 年 3 月刊

汇 业专题

商务部附条件批准希捷收购三星 硬盘驱动器业务 2011 年 12 月 12 日商务部发布公告,附 条件批准美国希捷科技公司收购韩国三星电 子有限公司硬盘驱动器业务的经营者集中申 报。商务部在该 2011 年第 90 号公告中称, 硬盘驱动器市场集中度较高。目前,在该市 场上仅存希捷、西部数据、日立存储、东芝 和 三 星 5 家 生 产 商。2010 年 上 述 5 家 生 产 商 在 全 球 市 场 的 份 额 分 别 约 为 33%、29%、 18%、10% 和 10%,在中国市场的份额与此类 似。商务部认定,此项集中将减少一个重要 的竞争者。考虑到大型电脑生产商的采购模 式,此项集中增加了剩余硬盘制造商同时获 得订单的可能性,削弱了硬盘生产商的竞争 压力。同时,由于硬盘市场透明度较高,硬 盘厂商有能力预判其他竞争者的行为,此项 集中也进一步增加了市场竞争者通过协调从 事排除、限制竞争行为的可能性。因此,此 项集中将对硬盘驱动器市场产生排除、限制 竞争的不利影响。

MOFCOM Approved the Acquisition of HDD Business of Samsung by Seagate with Conditions Attached December 12th, 2011, MOFCOM announced that it had approved the acquisition of the hard disc drive business of Korea Samsung Electronics by US Seagate Technology with restrictive conditions attached. MOFCOM stated in its No.90 Announcement in 2011 that the hard disc drive (HDD) market is a highly concentration market. There are only five manufacturers exist in the market up to the date, namely Seagate, Western Digital, Hitachi, Toshiba, and Samsung, and they respectively occupy 33%, 29%, 18%, 10% and 10% of the world market shares. In China they also occupy similar market shares. MOFCOM held that this concentration would reduce a competitor. Considering the purchase mode of the PC manufacturers, this concentration would increase the left HDD manufacturers' chance to win the order biding, and would reduce the competition pressure faced by left HDD manufacturers. In addition, the HDD market is comparatively transparent, and HDD manufacturers are able to predict other competitors' behaviours, therefore this concentration would increase the left HDD manufacturers' capabilities to coordinate their behaviours in order to eliminate competition. As a result, MOFCOM held that this concentration would eliminate or restrict competition in HDD market.

汇业观察

Huiye Observation

13


第 119 期 2012 年 3 月刊

汇 业专题

为此,商务部附加条件批准了该项经营 者集中,所附加的限制性条件最主要包括要 求希捷公司在完成收购后须在一定期限内维 持三星硬盘业务作为一个独立的竞争者在市 场上存在,且希捷公司应在决定作出后六个 月内继续维持和扩大三星的产能。商务部的 决定中同时规定,希捷公司可以在本决定实 施 12 个月后,向商务部申请解除前述义务, 届时商务部将根据市场竞争状况决定是否批 准解除。

In view of the above, MOFCOM approved this concentration with restrictive conditions attached. The main restrictive conditions include that Seagate should maintain Samsung HDD business as a standalone competitor in the market for a certain period of time, and that Seagate should continue to maintain and increase Samsung's productivity for six month after the date of this decision. MOFCOM also ordered in its decision that Seagate may apply to MOFCOM for relieve the above obligations after 12 month since such obligations was carried out. At that

我们注意到商务部在本案中所采取的救 济措施具有一定特殊性。按照一般对业务剥 离救济措施的理解,被剥离业务在过渡期间 应维持独立性,但过渡期结束后被剥离业务 须出售给独立的收购方。商务部在本案中决 定希捷公司在 12 个月后可以申请解除维持三 星硬盘业务独立性的义务,但未提及过渡期 结束后的业务剥离,此点与一般业务剥离救 济措施存在不同。我们将继续观察本案的进 一步动向。

time, MOFCOM would examine the competition condition of that market and decide whether to relieve such obligations. We noticed that the restrictive conditions attached in this case are unique. In general understanding, during the process of business divestiture the business being divested shall be maintained as stand-alone competitor, until the transitional period ends and business has been divested to a independent purchaser. However, in this decision MOFCOM allowed Seagate to apply for relieving its obligations after 12 months, and did not mention the purchasing of the stand-alone business after the transitional period. Therefore, this decision is different from ordinary divestiture remedy. We will continue watching the update of this case.

汇业观察

Huiye Observation

14


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2012.03期《汇业观察》