Wednesday, December 15, 2010
European Union antitrust investigation launched "two extension" or being a major blow.
<P> 25, the European Commission announced the official launch of the Rio Tinto and BHP Billiton's anti-monopoly investigation. .December 5 last year, "two extension" announced the merger of its iron ore operations in Western Australia, this is considered to be "two extension" Following the merger in 2008 after the abortive attempt to merge again, been including China, .EU and Japan and South Korea against the iron and steel enterprises. .</ P> <P> 25, Agence France-Presse reported, the EU said in a statement that day: "The European Commission has officially launched the two companies for antitrust investigation will focus on two companies for .the impact of international shipping iron ore prices. "EU also said that despite the investigation does not mean" there is conclusive evidence of monopoly ", the survey does not set a fixed deadline, but the lawyer said in Brussels, in 2008 BHP Billiton acquired power .extension failed, "two extension" agreement between the face more scrutiny. .AFP commented that the EU's latest survey in terms of these two iron ore giants, as good as another major blow. .Earlier, Rio Tinto launched a commercial bribery for investigation of the case. .</ P> <P> 25, Reuters reported that last year, "two extension" merger of Western Australia iron ore operations after the program came out, the World Iron and Steel Union and the European steel producers through its association in Brussels have expressed a clear .opposition. ."Financial Times" reports said that the Japanese Iron and Steel Union will continue to demand that the Japanese Fair Trade Commission and the relevant country's strict anti-trust regulators review the case and fully cooperate with regulatory authorities in the inspection. .UBS in a report also pointed out that although China and Japan have expressed "two extension" joint opposition, but because of "two extension" in China and Japan are not operating assets, the Chinese and Japanese iron and steel industry .and very dependent on the supply of iron ore in Australia, so the approach is more likely when recommended against approval of the EU. .</ P>.
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