EU widens Billiton-Rio Tinto probe

BRUSSELS, Belgium (AP) - The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concerns about higher prices and reduced choice for European customers of the mining concerns. Both are British-Australian dual-listed companies mining and marketing iron ore, coal, uranium, aluminum, mineral sands, copper and diamonds and other base metals and industrial minerals. Under European Union rules, the Commission now has until Nov. 11 to make a final decision. EU antitrust chief Neelie Kroes said in a statement that the "commodities produced by BHP Billiton and Rio Tinto are basic inputs for major industrial sectors" that are key to the competitiveness of European industries. "The recent surge in commodity prices has had... [read full story]