China Says BHP-Rio Tinto Deal May Require Review

Law360, New York (June 17, 2009, 12:00 AM EDT) -- Chinese officials have reportedly questioned whether a proposed joint venture between mining firms Rio Tinto Ltd. and BHP Billiton Ltd. combining their Western Australian iron ore assets might fall under China's anti-monopoly law or require new regulations to protect Chinese steelmakers.

Chen Yanhai, who heads the raw material department of China's Ministry of Industry and Information Technology, said the proposed deal had "strong monopolistic color," the Xinhua news agency reported Tuesday.

China's steel industry already came out against the joint venture agreement on June 9 and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.