EU Extends Review Time for MMG-Anglo American Deal

Dow Jones10-27

The European Union set a Dec. 21 deadline to end its competition investigation into MMG's bid for Anglo American's Brazilian nickel business, the European Commission said after the China-backed mining company offered concessions to the EU executive.

A commission spokesperson confirmed that the parties had submitted commitments and that the deadline had changed. The watchdog previously had a Nov. 30 deadline to wrap up its probe of the companies' deal. The regulator has said it is concerned the deal could divert ferronickel supplies away from Europe.

MMG, which is majority-owned by state-controlled China Minmetals, on Friday said it had proposed a legally enforceable supply guarantee in an effort to ease officials' competition concerns.

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