Bloomberg reported that Anglo American Plc, Xstrata Plc and ArcelorMittal are the most likely buyers should BHP Billiton Limited sell iron ore assets to gain regulatory approval for its USD 68 billion bid for Rio Tinto Group.

The report quoted Mr Michael Rawlinson head of mining resources and energy at Liberum Capital Limited stating that the purchasing capability of potential buyers is constrained and they would need innovative financing, which may include the support of sovereign wealth funds.

Mr Michael Rawlinson was quoted as saying that “With the asset prizes so attractive, we think bidders will be willing to go the extra mile.''

Mr James Wyatt-Tilby a spokesman for Anglo in London remark that “We have stated for some time that we would be interested in looking at assets that may be disposed of as part of the BHP Rio transaction, providing they are high quality, long life, low cost assets in the most attractive commodity segments, one of which is iron ore.''.

European Union regulators had earlier sent BHP a formal complaint outlining antitrust objections to its offer, the company said earlier this month. Asian and European steelmakers oppose the takeover, saying it would give BHP too much influence over iron ore prices.

Mr Haroon Hassan a spokesman for ArcelorMittal said that “If such assets come onto the market we will assess the opportunity. However, as we said at our recent third quarter results, our priority at the moment is on debt reduction.''