S.Korea's POSCO says concerned over BHP-Rio merger

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SEOUL, Nov 20 (Reuters) South Korean steel maker POSCO <005490.KS> is concerned that a proposed merger between BHP Billiton and Rio Tinto could result in a monopoly, an executive said on Tuesday.

''Like the Japan Iron and Steel Federation and members of the International Iron and Steel Institute (IISI), POSCO is concerned over a possible BHP-Rio Tinto merger as it will form a monopoly in raw materials including in iron ore,'' Kwon Young-tae, executive vice-president, told Reuters.

BHP Billiton chief executive Marius Kloppers was in Seoul Tuesday to make the case to clients and investors for his firm's rejected 2 billion takeover offer for Rio Tinto. He visited Japan on Monday and is due in China on Wednesday.


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