The merger had been widely tipped to win Chinese backing following approval from Europe and the US, but in a shock announcement on Tuesday, the country’s ministry of commerce said the huge alliance may eliminate or restrict competition in the Asia-Europe market.
Maersk said in a statement it respected the decision and added: “Subsequently, the partners have agreed to stop the preparatory work on the P3 Network and the P3 Network as initially planned will not come into existence.”
It
