Oct. 29 (Bloomberg) -- The Japanese government will ask the European Union to block BHP Billiton's bid to take over Rio Tinto, Japan's Jiji Press reported, without saying where it obtained the information.

Japan, which relies on BHP and Rio for about 60 percent of its iron ore imports, is concerned that the merger would put Japanese buyers at a disadvantage, Jiji said.

European antitrust regulators will soon begin the final phase of their investigation into the transaction before reaching a final decision on Jan. 15 next year. Japan's Fair Trade Commission this year began a probe into the deal, Jiji said.

Hiroyuki Ishige, Japan's vice trade minister for international affairs, is scheduled to meet with Philip Lowe, director-general of the European Commission's directorate general for competition, on Friday, Jiji said.

To contact the reporter on this story: Tak Kumakura in Tokyo tkumakura@bloomberg.net.

Last Updated: October 28, 2008 19:05 EDT