The Australian Business reported that RIO Tinto shareholders are unlikely to know until December whether the USD 170 billion takeover offer from BHP Billiton will survive an investigation by the European Union.

BHP has confirmed that it has been granted a 20 day extension to the inquiry, blowing out the deadline for the EU investigation from November until December 9th 2008.

A spokeswoman said that "BHP Billiton has exercised its right to request at 20 day extension to the phase two timetable. This is consistent with our previously stated expectation that the regulatory process will complete within the fourth quarter."

EU has examined the deal for two months and will spend another six months looking into the ramifications of the offer. EU's competition watchdog said that there were sufficient concerns about the integration of the world's two largest miners for further study. T

BHP has received regulatory clearance from the US Department of Justice to proceed with the deal, but the EU and Australian competition reviews are considered more important.