BHP 0.33% $42.78 bhp group limited

bhp rio takeover gets s africa green light

  1. azu
    612 Posts.
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    South Africa's competition authorities have recommended approval of BHP Billiton's takeover of mining rival Rio Tinto.

    But there are conditions attached because the bid has created concerns around the globe that BHP would have too much control over prices and supply.

    In a statement, South Africa's Competition Commission said the takeover would not weaken competition in most markets, except for the mining and processing of aluminium.

    Australia's competition authorities have already said that the proposed acquisition will not substantially lessen competition.

    The European Commission is due to hand down its decision on the takeover by mid January.

    http://www.abc.net.au/news/stories/2008/10/24/2399955.htm?section=world
 
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