China's Commerce Ministry Hasn't Received Documents for Ele.me's Baidu Waimai Takeover
Xu Wei
/SOURCE : Yicai
China's Commerce Ministry Hasn't Received Documents for Ele.me's Baidu Waimai Takeover

(Yicai Global) Sept. 7 -- China's Ministry of Commerce has not received a report from Ele.me operator Shanghai Lazhasi Information Technology Co. regarding its acquisition of Baidu Inc.'s [NASDAQ:BIDU] meal delivery arm Baidu Waimai, ministry spokesman Shang Feng said at a press briefing on Sept. 7.

Meal delivery platform Ele.me announced the takeover on Aug. 24 this year. Baidu Inc.'s subsidiary Beijing Baidu Netcom Science and Technology Co. currently runs the search giant's takeout delivery service.

Ele.me topped China's meal delivery market with a 41.7-percent share in the first half, according to iiMedia Research. Baidu Waimai came in third with 13.2 percent.

Chinese law states that when a firm takes control of a 50 percent share in a single market, it must report to anti-monopoly law enforcement authorities.

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Keywords: Ele.Me , Baidu Waimai , M&A , REGULATION , Meal Delivery