BHP, Rio Likely to Abandon Iron-Ore Joint Venture, Lawyers Say

BHP Billiton Ltd. and Rio Tinto Group, the largest and third-largest mining companies, are likely to abandon plans to create an iron-ore joint venture after complaints from regulators, lawyers said.

Japanese and German antitrust authorities said yesterday they oppose the deal. The European Commission will also raise formal objections to the 50-50 venture, according to two people familiar with the situation.