Movement Alert｜MMG Falls 3.1% in Regular Trading, Nickel Deal Deadline Extended After EU Review Moves to Phase 2

Market Focus11-03 14:03

On November 3, MMG fell 3.1% in Regular Trading, trading at HK$6.72, with turnover of HK$101 million.

The move followed the company’s announcement that the long-stop date for its acquisition of Anglo American’s Brazilian nickel business was extended to December 31 after the European Commission moved its merger review into Phase 2.

MMG said all other conditions for the acquisition have been satisfied, while the EU review is now due to conclude by December 21. The extension underscores that regulatory clearance remains the key outstanding hurdle for the roughly $500 million transaction. Earlier EU objections had cited concerns that the deal could reduce competition in low-carbon ferronickel and potentially affect supply to European stainless steel producers, keeping approval uncertainty in focus and weighing on the shares.

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