BEIJING, Sept 8: China said it will submit Coca-Cola’s proposed takeover of juice producer Huiyuan to an anti-monopoly review, amid reports that rival Chinese companies would seek to block the deal.

The US soft drink giant’s application for the bid will be reviewed under the anti-monopoly law once the commerce ministry receives it, spokesman Yao Shenhong was quoted as saying by state-run China Central Television at the weekend.

Yao said a review was necessary because of the large sum of money involved, according to the television station.

Coca-Cola announced last week plans to buy Hong Kong-listed Huiyuan Juice Group for $2.4 billion, the US soft drink maker’s largest acquisition in China.

Analysts have said the takeover, if approved, would be the largest by a foreign firm of a Chinese company, but added the deal had to be reviewed under an anti-monopoly law that took effect last month.—AFP