EU regulators to decide on 47 billion pound Shell, BG deal by September 2

31 Jul, 2015 4:59 am

BRUSSELS – European Union antitrust regulators will decide by September 2 whether to approve Royal Dutch Shell’s (RDSa.L) planned 47 billion pound ($73.25 billion) buy of BG Group (BG.L) to become the world’s top liquefied natural gas company.

The European Commission said the Anglo-Dutch company sought approval on Wednesday. It can extend its review by 10 working days in the event Shell offers concessions or open a four-month-long full-scale investigation if the company cannot allay competition concerns.

The deal, which will help Shell compete better with world No. 1 oil major ExxonMobil (XOM.N), has already received the green light from regulators in the United States, Brazil and South Korea. -Reuters

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