Australian Two Mining Giant Merger will be Accepted at China's Anti-monopoly Review (2008-8-5)
BHP Billiton and RioTinto have submitted the applications of merger to the Chinese Ministry of Commerce for anti-monopoly report. China Steel Industry Association which be on behalf of the Chinese iron and steel sector position have said: China firmly opposes.
Australian mining giant BHP Billiton on the acquisition of another 140 billion U.S. dollars in contract to the mine to the anti-monopoly for the report submitted last month to the Chinese Ministry of Commerce, and China's related departments to accept the antitrust review.
The executive vice president of China Steel Industry Association Luo Bingsheng said last Friday, has been to the Chinese Ministry of Commerce expressed the merger of the position, which is opposed.
BHP Billiton has acquired in the United States, the European Union, China and other applications. Because China is the one of the largest exporting country and therefore must go through antitrust review of China's consent.
BHP Billiton, RioTinto and CVRD three companies control more than 72 percent of the world's iron ore resources, the merger will enable the industry's monopoly stronger.
Originally Published: Danmex.org
Author: Angulo Fu