Dear Member of the WIN,
It is my pleasure to share with you UNCTAD's latest Investment Policy Monitor
on "Regulatory
review of cross-border M&As - Safeguarding public interests or resorting
to protectionism?" It presents
recent developments concerning the review of cross-border M&As. UNCTAD
analyzed over 200 of the largest cross-border M&As (those with a transaction
value of $500 million or more) that were withdrawn between 2008 and 2012.
In most cases M&A plans were aborted for business reasons, but a significant
share was also withdrawn because of regulatory concerns, such as competition
issues, economic benefit tests and national security screening, or political
opposition.
The close review of cross-border M&As is part of a broader development
towards reinforcing the regulatory framework for foreign investment and
making more use of industrial policies in strategic sectors. While governments
have the right to regulate foreign investment in the public interest, there
is growing concern that some of these measures could hide protectionist
aims. Efforts should be undertaken at the international level to clarify
the meaning of investment protectionism.
***
UNCTAD's 2013 World Investment Report (WIR),
will be launched globally on 26th June. The report will present
recent trends in global and regional investment flows and policies. The
theme of the report is "global value chains: investment and trade
for development".
With kind regards,
James Zhan
Director
Investment & Enterprise Division
United Nations Conference on Trade &
Development
Palais des Nations, Geneva
Tel: +41 22 9175797
www.unctad.org/diae
www.unctad.org/wir
(World Investment Reports)
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