Germany To Block Rio Tinto-BHP Iron Ore Joint Venture

Law360, New York (October 14, 2010, 4:23 PM EDT) -- Germany's cartel office has said it plans to block a proposed joint venture between Rio Tinto Ltd. and BHP Billiton Ltd., casting doubt on a deal that would combine the efforts of two of the world's three largest producers of iron ore.

The Federal Cartel Office confirmed Thursday that it intended to prohibit the proposed joint venture in Western Australia based on its preliminary investigation and will provide its statement of objections in the next week.

Rio Tinto and BHP Billiton, along with third-party steel companies...
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.