The Sunday Telegraph reported, without citing sources, reported that BHP Billiton Ltd. is expected to lodge a filing with the European Commission that will start the clock ticking' on its hostile bid for Rio Tinto Group.

The Telegraph said that the submission, which is expected within the next two weeks, will mean the commission has from 25 to 35 working days to clear the deal, clear it with remedies or begin a period of further study that could last five months.

The report said that "Given BHP's and Rio's overlapping iron-ore businesses, which between them would control a third of the seaborne market, most observers and the company expects EC Competition Commissioner Ms Neelie Kroes to launch an investigation. It is understood there could also be issues surrounding the two companies' uranium and coking coal operations, which could mean the end of the year before regulatory issues are sorted out and BHP can proceed with its formal offer of 3.4 BHP shares for every one Rio share."

The report added that BHPB has spent several months preparing its case to convince the commission to approve the acquisition of Rio Tinto.

BHP also has to submit documents with regulators in Australia, South Africa and the United States.