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Germany approves US$19.5b deal

MINING company Rio Tinto Group yesterday said German regulators have approved the proposed US$19.5-billion investment by Aluminum Corp of China, a deal that still must clear regulatory hurdles in several other countries.

London-based Rio Tinto said the German Federal Cartel Office has found no anti-competitive element to the proposed investment by Chinalco, as the company is known. But regulatory authorities in China and the United States, as well as the Australian government where both Rio Tinto and Chinalco both have substantial operations, still must approve the investment.


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