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EU competition regulators set to block Alcan takeoverliz.wells@haymarket.com, 5 November 2008Be the first to comment on this article European competition regulators have sent Australian-based international mining giant BHP Billiton a formal complaint outlining objections to its proposed $79.5bn takeover of Rio Tinto, the parent of Alcan. According to the Montreal Gazette, BHP did not disclose details of the European Commission’s objections and the Commission has refused to comment further, but it has already said it had concerns that the takeover would result in higher prices and reduced choice for customers. The Commission started its review on 29 September and is due to make a decision by 15 January. Australian regulators and the US Justice Department have already approved the deal, with some reservations, but did not demand any asset sales. Speak Your Mind |
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