Watchdog aims to bring a halt to BHP-Rio ore deal

Article reports that Germany’s competition authority intends to prohibit a far-reaching iron ore joint venture by Rio Tinto and BHP Billiton after stating on the 14 October 2010 that it had an 'intention to prohibit' the venture.

The move is likely to foreshadow a rejection of the venture by the European Commission, a body that is widely seen to have deciding power over a transaction that would upend the status quo in the iron and steel industries.

ESO: Background information: Opposition mounts against Rio-BHP move http://www.europeansources.info/record/opposition-mounts-against-rio-bhp-move/

Rio Tinto, Press Release, 18.10.10: Rio Tinto and BHP Billiton end plans for iron ore production joint venture http://www.riotinto.com/documents/PR838g_Rio_Tinto_and_BHP_Billiton_end_plans_for_iron_ore_production_joint_venture.pdf

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