Lakshmi Mittal buys Lafarge, AA assets

Laxmi Mittal

Britain's Competition Commission began looking into the proposed venture, which would have rung up annual sales worth 1.8 billion pounds ($2.9 billion) in 2010, after the tie-up was challenged by the country's consumer affairs watchdog, the Office of Fair Trading, in September last year.

Lafarge's Hope cement plant in northern England is one of the largest in Britain, and regulators hoped its sale will bring in a new player to maintain the current level of competition. The UK cement market is dominated by Lafarge, Tarmac, Cemex  and HeidelbergCement's Hanson.

Lafarge shares were up 0.2 percent at 45.72 euros on the CAC40 index in early trade, while Anglo American was trading 0.3 percent higher at 1,695 pence on London's FTSE100 index.  ArcelorMittal shares were 0.1 percent higher.

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