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ZAMBIA Merger of car firms rejected

January 29 2013 at 08:00am

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A Zambian government regulator rejected a proposed merger of Japanese conglomerate Toyota Tsusho and France’s CFAO yesterday, saying that it would lessen competition in the local car market. The companies are both involved in the selling and distribution of new vehicles and parts in Zambia as well as servicing vehicles. Competition and Consumer Protection Commission spokesman Hanford Chaaba said that allowing the merger would give the two companies a combined market share of 75 percent. – Reuters


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