Stephen Crosswell
Biography
Highly acclaimed and Band 1 ranked Leading Antitrust Lawyer Stephen Crosswell is the chair of Baker McKenzie's Asia-Pacific Antitrust & Competition Group, the head of our Greater China Antitrust & Competition team and the immediate past chair of our Asia-Pacific TMT Industry Group. He is one of the leading trial lawyers in Hong Kong, admitted as a Solicitor Advocate, with the right to appear as an advocate at all levels in the Hong Kong Courts, including the Competition Tribunal, the High Court, the Court of Appeal and the Court of Final Appeal.
Clients laud Stephen for his "years of experience working on competition matters." He is described as a "vital resource for clients seeking to navigate the nuances not only of the local competition law regime in Hong Kong but also across other Asian jurisdictions – including China." Stephen is uniquely placed as a specialist competition advocate in Hong Kong. He represented one of the parties to the first enforcement action taken in Hong Kong's Competition Tribunal. His practice covers investigations, dawn raid response, multijurisdictional cartel investigations, leniency, merger clearance, collaboration/joint ventures and antitrust advisory. Stephen’s three decades of experience includes running and advising on some of the largest and most high-profile competition trials, dawn raids, leniency applications, cross-border cartel matters and merger clearance projects in Asia.
Stephen is also one of the leading telecoms, media and technology regulatory lawyers in Asia, with a practice that covers a broad range of regulatory and litigation issues in China, Hong Kong and throughout the Asia Pacific. This includes digital market regulation, AI, interconnection disputes, premium media content disputes, telecommunications licensing, spectrum allocation and auctions, 5G rollout, submarine cables, cable landing stations, satellite disputes, pay and free TV licensing, judicial review proceedings and access claims.
Practice Focus
Stephen advises clients across a broad range of sectors, including media, telecommunications, technology, government contracts, oil and gas, electricity, healthcare, retail, banking and finance, property and ports. Stephen is a go-to lawyer for leading companies when they need solutions to their most complex antitrust, regulatory and litigation matters.
Stephen also shapes policy on TMT and competition matters across the Asia-Pacific, including digital market regulation, AI policy and legislative proposals, regulated industry negotiations with governments and regulators, deregulation, privatization and state owned enterprises reform. He advises multinational businesses, leading business chambers, think tanks, governments and regulators on policy and is able to combine practical legal solutions with policy insights and cross-border perspective.
Representative Legal Matters
Court of Final Appeal Judgements
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Acted for the appellant in C v D, FACV 1/2023 reported in [2023] HKCFA 16, a contractual dispute between a Hong Kong company and a Thai company regarding the operation of a jointly-owned broadcasting satellite.
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Acted for the appellants, PCCW-HKT Telephone Ltd and Hong Kong Telecommunications (HKT) Ltd in FACV 11/2017 reported in [2017] HKCFA 105, a judicial review challenge against the legality of licence fees which may be levied by the Communicaitons Authority under the Telecommunications Ordinance s. 7(6)(e).
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Acted for the respondents in PCCW HKT-Telephone & Anor v Aitken & Anor in FACV27/2008 reported in [2009] 2 HKLRD 274; (2009) 12 HKCFAR 114, seeking an injunction against a former employee who acquired confidential and privileged information during his employment.
Cartels and Litigation
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Acted for a leading UK-based global telecommunications company in the first competition prosecution to take place under Hong Kong's competition law, overseeing the dawn raid and delivering the opening submissions at trial as Solicitor Advocate.
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Acted for a US corporation in respect of an investigation into alleged bid-rigging by the Hong Kong Competition Commission.
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Acted for a Hong Kong listed company on an investigation by the Hong Kong Competition Commission in relation to an alleged abuse of dominance.
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Made the first ever leniency application in Hong Kong and successfully negotiated one of the first leniency agreements with the Hong Kong Competition Commission.
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Acted for a multinational company on complex cross-border leniency applications in Hong Kong, Singapore, Malaysia, Korea and Australia, appearing and making submissions to HKCC (Hong Kong) and, with local counsel, before the CCCS (Singapore), KFTC (Korea) and MyCC (Malaysia).
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Acted for a cable network operator in arbitrations concerning sub-sea telecommunications cable networks and data centre access / interconnection.
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Acted for PCCW and HKT in various competition law and judicial review proceedings concerning fixed-mobile interconnection deregulation in Hong Kong.
Mergers
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Advised FedEx on the China merger control aspects of its USD 4.4 billion acquisition of TNT.
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Advised Platinum Equity, LLC on the China merger control clearance aspects of its USD 4 billion acquisition of Emerson's Network Power Business, and its SGD 150 million acquisition of the Foam Plastics Solutions and the Flow Control Devices businesses from Broadway Industrial Group Limited.
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Advised HonHai (Foxconn) on the China merger control aspects of its USD 3.8 billion acquisition of Sharp (2017 IFLR Deal of the Year).
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Advised Murata Manufacturing on its 17.5-billion yen acquisition of Sony Group’s battery division.
Policy positions and recent engagement
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International Competition Network (ICN) - Non-governmental adviser (NGA) to the Hong Kong Competition Commission (February 2022 – present; June 2015 – February 2018)
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Advised on drafting and negotiations with government regarding the electricity industry regulatory framework for a major Asia-based electricity company.
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Represented the Hong Kong General Chamber of Commerce in the Legislative Council hearings relating to enactment of Hong Kong's competition law.
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2024 TCCT Competition Policy Symposium 2024 - Optimal Competition Policy for Thailand (focused on Thailand’s digital market policy)
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2024 USABC Jakarta Roundtable on Digital Market Policy (focused on Indonesia’s digital market policy)
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2024 Asia Internet Coalition Regional Industry Seminar Digital Economy and Platform Regulations, in Singapore
Professional Honors
- Chambers & Partners: Band 1 Leading Lawyer, Antitrust/Competition, Chambers Global since 2012, Band 1 Leading Lawyer, Competition/Antitrust (International Firms), Chambers Greater China Region since 2022, Chambers Asia Pacific since 2011, Telecommunications & Broadcasting (International Firms), Chambers Asia Pacific, 2009-2015
- Legal500: Leading Lawyer, Legal 500 Asia Pacific Antitrust & Competition (Hong Kong) since 2016, TMT (Hong Kong), Recommended Lawyer for Competition and TMT Litigation, Legal 500 Asia Pacific, 2011, TMT (Hong Kong), Recommended Lawyer for Telecoms and Regulatory Disputes, Legal 500 Asia Pacific, 2009-2011
- Who’s Who Legal: Competition (China & Hong Kong), Thought Leader, since 2022, Competition (China & Hong Kong), Future Leaders (Partners), 2018-2021
- IFLR: Market Leader in Competition (Hong Kong), IFLR 1000, 2011, 2015-2022, Ranked as a top dealmaker in Asia Pacific, IFLR Asia Best Lawyers, 2020
- China Law & Practice: Shortlisted for Competition Lawyer of the Year in China, 2019
- Acritas Star Lawyer (Hong Kong), 2020-2021
- Euromoney’s Expert Guides: Recognized Expert in Competition & Antitrust (Hong Kong), 2018, 2021
- M&A Today – Global Awards: Best Leading Antitrust Lawyer of the Year (Hong Kong), 2021
- Lawdragon 500: Leading Global Antitrust & Competition Lawyers, 2025
- Concurrences Antitrust Writing Awards
- Nominee 2025: China: Antitrust compliance credit now available for SAMR-verified programs
- Winner 2021: Business, Private Enforcement (“Developing a Global Settlement Strategy”)
- Nominee 2020: Business, Asian Antitrust (“China's SAMR Ramps Up Antitrust Enforcement”)
- Winner 2019: Academic, Cross-Border Issues
- Nominee 2017-2018: Business, Asian Antitrust
Professional Associations and Memberships
- IBA Antitrust Committee - Member (appointed 2017)
- International Competition Network (ICN) - Non-governmental adviser to the Hong Kong Competition Commission (February 2022 – present; June 2015 – February 2018)
- American Bar Association Antitrust Section Leadership International Cartel Task Force - Member (2016 – present)
- Hong Kong General Chamber of Commerce - Chairman, Legal Committee (2014 – 2017)
- Law Society of Hong Kong, Competition Law Committee - Chairman (2016 – 2024)
Admissions
- England & Wales~United Kingdom (2010)
- Hong Kong (2007)
- New South Wales~Australia (2003)
- Australia (2003)
- New Zealand (1996)
Education
- University of Auckland (Conjoint Bachelor of Commerce/Law, Hons) (1997)
Languages
- English