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Investing.com -- Brazil’s competition authority has launched an investigation into Anglo American’s plan to sell its nickel operation in the country, according to a Financial Times report on Wednesday.
CADE, Brazil’s antitrust regulator, confirmed it had opened a probe into the $500 million deal that Anglo American (LON:AAL) agreed in February with MMG Singapore Resources. The investigation was initiated in response to a complaint.
"Based on a complaint received, an Administrative Procedure for Investigating an Act of Economic Concentration was instituted," CADE said, according to the FT.
The Financial Times reported that Global industrial group CoreX Holding filed the objection to the deal, citing a person with direct knowledge of the matter.
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