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Any seized assets will be sold in open auctions, he said.
This past August, though, the government finally established new rules that call for open auctions in Beijing.
However, many Fifa purchasers quickly found that they could exploit the open auctions for considerable monetary gain.
Between July 1999 and March 2002, the sales went ahead, in the form of 17 open auctions.
Others are cutting local branches, citing low returns.To reform Taiwan's banks successfully, the government will have to drop its numerical targets, privatise more (preferably via open auctions) and remove market-distorting measures, such as the ban on organic growth.
Farmers in the region sell their soyabeans to intermediaries in open auctions at government-regulated wholesale markets called mandis, a system that was set up in order to protect farmers from unscrupulous buyers.
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Mr Chubais wanted an open auction.
This fall, a bankruptcy court will hold an open auction for both businesses.
That way, they could bypass the open auction and cut deals among themselves".
As the co-founders and second-largest shareholders, they had hoped for an open auction.
The highest bid in an open auction is, by definition, "fair market value".
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