13 AUGUST 2012Tradingcharts.com
EU Seeks Comments on Rio Tinto Alcan's Offer to Solve Aluminum Antitrust Concerns
Edited by : AL CIRCLE
1 min read
European Union antitrust regulators are seeking comments on commitments that Rio Tinto Alcan offered to solve competition concerns about the contractual use of a technology to process aluminum, the European Commission said Friday.
"The European Commission is inviting comments from interested parties on commitments offered by Rio Tinto Alcan to address concerns that it may have infringed EU antitrust rules," the commission, which has antitrust powers in the EU, said in a statement.
The commission is investigating the practice by Alcan, which was bought by Rio Tinto PLC (RIO), to link the licenses for one of its leading aluminum smelting technologies to the purchase of equipment from one of its subsidiaries.
After negotiations with the EU, Rio Tinto Alcan has offered to modify the terms of its future technology transfer agreements, the commission explained.
If the so-called market test confirms that the offer is effective in solving the antitrust concerns, the commitments will become legally binding on Rio Tinto Alcan, which means the commission would be able to fine the company if it failed to stand by them.
"The European Commission is inviting comments from interested parties on commitments offered by Rio Tinto Alcan to address concerns that it may have infringed EU antitrust rules," the commission, which has antitrust powers in the EU, said in a statement.
The commission is investigating the practice by Alcan, which was bought by Rio Tinto PLC (RIO), to link the licenses for one of its leading aluminum smelting technologies to the purchase of equipment from one of its subsidiaries.
After negotiations with the EU, Rio Tinto Alcan has offered to modify the terms of its future technology transfer agreements, the commission explained.
If the so-called market test confirms that the offer is effective in solving the antitrust concerns, the commitments will become legally binding on Rio Tinto Alcan, which means the commission would be able to fine the company if it failed to stand by them.
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