Australian regulator gives Rio Tinto, BHP Billiton extra time on deal

Australia's competition watchdog said on Saturday it would give mining giants Rio Tinto and BHP Billiton extra time to respond to its questions on a proposed $116 billion merger of their Western Australian iron ore operations.                                            
 

On March 30, the Australian Competition and Consumer Commission (ACCC) requested new information from the companies regarding the planned deal. A spokesman told
Reuters on Saturday that its timeline on the investigation had been suspended on Friday.                                           
 

"The timeline was suspended to allow the parties additional time to respond," the spokesman said, without elaborating.             
 

The ACCC has indicated a proposed date to announce its view of May 27, which has been extended from an earlier date of April 28.                                           
 

The proposed joint venture has upset major customers of both companies, particularly in China, and has prompted investigations by regulators in both Australia and the European Union.