BHP CBO: BHP TO SUBMIT FILES FOR RIO BID IN A FEW WEEKS

BHP Billiton Ltd. is approaching to officially submit files on buying Rio Tinto Plc to European anti-monopoly administration, said BHP Billiton’s chief business officer (CBO) Alberto Calderon Wednesday. BHP will submit the files within a few weeks, not a few months, said Calderon on an introduction meeting. BHP proposed a hostile bid to rival Rio Tinto for 147.4 billion dollars in February this year, which is still waiting for approvals from administrations in Europe, Australia and administrations in other regions. It is estimated that European Commission will study potential effect on iron ore shipment by the acquisition, as the metal is a major material for steel-making, steel producers all hold opposition for the acquisition. BHP previously planned to officially submit the proposal to European Union in the first quarter. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.