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ONE completes all regulatory approvals

Japanese container line joint venture Ocean Network Express (ONE) has received all the approvals it requires globally.

The container line joint venture of NYK, Mitsui OSK Lines and K Line has finally received approval from South Africa's competition authority, which rejected the merger last June. Following continuing negotiations the members of ONE said approval was received from the South African authorities today.

All other local, regional and national regulatory approvals for the joint venture were received last June.

Headquartered in Singapore ONE is due to operations on 1 April this year and will be the world's sixth largest container line.

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