The BHP Billiton hearing at the Competition Commission, scheduled to begin on Thursday, has been cancelled, the Competition Tribunal said in a statement on Wednesday.
”The Competition Commission and BHP Billiton are in negotiation and if a settlement is not reached the hearing will begin on Friday August 29,” the statement said.
In a statement on Monday, the tribunal said that BHP Billiton wished to have set aside a summons that had been issued by the Competition Commission.
”This is in regard to the proposed merger between BHP Billiton and Rio Tinto,” the tribunal said.
BHP Billiton objected to a summons issued to an employee of BHP Billiton to provide certain information to the commission.
”The commission claims the information required is necessary to evaluate the BHP Billiton and Rio Tinto merger.” According to BHP Billiton, the information was ”irrelevant for the purposes of the investigation being undertaken by the Competition Commission”.
BHP Billiton has also been investigated in Australia.
Last week, the Australian Competition and Consumer Commission (ACCC) said the merger of BHP Billiton and Rio Tinto might significantly influence global iron-ore supply prices.
The ACCC compiled a ”Statement of Issues” on the proposed acquisition of Rio Tinto by BHP Billiton. It said it needed clarity on certain issues. BHP Billiton launched its bid for rival Rio Tinto in February this year.
The resources giant has, however, been granted United States regulatory approval.
It would now ask the Chinese Ministry of Commerce for clearance.
BHP Billiton has also requested clearance in the European Union and Canada.
It intends to make similar requests in Japan, Korea and Taiwan. — Sapa