EU antitrust regulators send statement of objections to mmg regarding its nickel deal with Anglo American (AAL LN); deal may restrict competition for ferronickel and MMG may divert supply away from Europe

A statement of objections is the formal intermediate step in EU merger review, not a blocking decision; the historical pattern is that a large share of SOs end in remedies or clearance, with outright prohibitions the minority, so the base case from here is a concessions negotiation rather than deal collapse. The Commission's concern, as framed, is vertical: that the acquirer could divert ferronickel supply away from European stainless buyers, which points to behavioural or supply-commitment remedies as the established cure in comparable materials deals, and the response window and remedy deadline now become the calendar events that matter. Prior form in this space is that remedy talks run weeks to months and the merged entity's completion timeline, and any outside date in the deal documentation, is where the risk concentrates. Worth distinguishing the two strands: the market-share objection in ferronickel is the kind typically resolved with commitments, while foreclosure-of-supply arguments have historically been the harder sell to remedy. Note also the ticker collision in the tags: AAL LN is Anglo American, the US airline tag is a machine artefact. The follow-ons are the acquirer's formal reply, any remedies offer, and whether the Commission's preliminary view hardens or softens at the decision stage.