Rio Tinto buy of Alcan set for EU clearance - source

BRUSSELS - The European Commission is set to clear Rio Tinto Ltd's proposed 38.1 bln usd acquisition of Canadian aluminum producer Alcan Inc, a source close to the matter told Thomson Financial News. The source said the transaction should not give rise to competition concerns. The commission has until Oct 2 to rule on the transaction. The companies have already received US antitrust approval for the deal. The takeover will make Rio Tinto, the world's third largest miner by sales, the world's biggest producer of aluminium and bauxite. Its main rivals will be Pittsburgh's Alcoa Inc and Russia's Rusal.