BHP Billiton confirms EC’s objection to proposed Rio Tinto takeover

Tuesday, 04 November 2008 15:57:57 (GMT+3)   |  
       

Australian miner BHP Billiton has confirmed the receipt of a Statement of Objections from the European Commission in relation to its pre-conditional offer for fellow miner Rio Tinto.

BHP Billiton said that it is continuing to work cooperatively with the European Commission and added that it will be will be responding in due course to address the issues raised in accordance with the established merger review process.

The company, however, provided no details regarding the EU notice.

EC regulators have been investigating the deal since July, raising concerns over possible higher prices and reduced choice for European customers for metals and minerals.


Tags: Europe Rio Tinto BHP 

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