China greenlights Nestle's (NSRGY.PK) plan to buy a 60% stake in Hsu Fu Chi, China's biggest...

|About: Nestle S.A. ADR (NSRGY)|By:, SA News Editor

China greenlights Nestle's (NSRGY.PK) plan to buy a 60% stake in Hsu Fu Chi, China's biggest confectioner. At $1.7B, it's one of the biggest deals by a foreign company in China, easing concerns that regulators are on a protectionist bent.