Bloomberg News

EU Steelmakers Cite Antitrust Concerns on Glencore-Xstrata Deal

February 20, 2012

Feb. 17 (Bloomberg) -- European steelmakers group Eurofer said it is concerned Glencore International Plc’s takeover of Xstrata Plc may harm competition in the zinc, nickel and coal markets.

Eurofer will gather data before deciding whether to file an antitrust complaint with the European Commission over the “competition implications of the merger,” Axel Eggert, Eurofer’s public affairs director in Brussels, said in an e- mailed statement.

“Our concerns are with regard to the potential impact on the markets for zinc, nickel and coal,” Eggert said today on behalf of the group, which has members including the world’s largest steelmaker, ArcelorMittal, and Germany’s largest steel producer ThyssenKrupp AG.

A Glencore spokesman declined to comment. An Xstrata spokesman declined to immediately comment.

--With assistance from Firat Kayakiran in London. Editor: Christopher Scinta

To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net

To contact the editor responsible for this story: Christopher Scinta at cscinta@bloomberg.net


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