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Business

China probes Uber, Comcast dealmaking

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Opening sequence

Business

China probes Uber, Comcast dealmaking

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COMING UP:China probes Uber, Comcast dealmaking

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00:00:02
>> China potentially ruffling feathers Friday, ahead of a weekend meeting of world leaders. Several high profile corporate deals involving US companies are now being investigated by China's Ministry of Commerce, according to Reuters Mergers and Acquistion editor, Greg Roumeliotis. After selling last month, they will review Marriott's acquisition of Starwood.
00:00:26
They said that they will scrutinize Didi's acquisition of Uber
INAUDIBL
] business. In addition to Comcast's acquisition of Dreamworks Animation which was actually completed last week.>> Officials in Beijing are particularly concerned the Didi Uber agreement would combine the nation's two largest ridesharing providers with a combined hold on 90% of the market.
00:00:53
That will leave little room for competition and push prices higher. Similar anti-competitive concerns are behind the probing to Comcast, one of America's largest entertainment groups and DreamWorks at a time when China's red hot Box Office may be starting to cool down. While these probes may seem like China is moving more toward capitalism, there might be actually be an attempt to flex its political and economic muscle.
00:01:18
>> I think what it does show is that they want to be more aggressive. Remember, these are reviews. China rarely actually has shot down one of those deals since our reviews, but they want to show that procedurally they're here, they're very relevant.>> Which means not only will Western dealmakers have to worry about pleasing regulators in the US and Europe, soon they might also have to worry about pleasing Beijing