September 11, 2008

Japan’s FTC Ready for Talks With EU Over BHP-Rio Deal

Tokyo, Sept. 11 (Jiji Press)--Japan's Fair Trade Commission is ready to talk with its counterpart in the European Union over BHP Billiton's proposed takeover of Rio Tinto, FTC Chairman Kazuhiko Takeshima said Thursday.

If the EU side is interested, the FTC will hold talks on the takeover deal, Takeshima said at a news conference, indicating the commission's readiness to cooperate in antimonopoly investigations.

The FTC is investigating the takeover deal because the merger of the two global mining giants could hamper fair competition in violation of Japan's antimonopoly law.

BHP Billiton has declined the FTC's request for it to voluntarily cooperate in the investigations. On this, Takeshima said BHP Billion will only lose time in explaining its takeover proposal.END

(c) 2008 Jiji Press English News Service. Provided by ProQuest LLC. All rights Reserved.