Source Pravda.Ru

EU forbids deals between ALROSA and De Beers

The European Commission has banned a deal between Russian diamond producer ALROSA and De Beers, because it contradicts European anti-monopoly legislation.

As reported earlier, ALROSA proposed to sell half of its produced diamonds to De Beers. According to the deal, the Russian company was to supply uncut diamonds totaling $844.6m annually for a five-year period.

This deal undermines competition on the market of uncut diamonds, the anti-monopoly commission said in its statement.

© &to=http://www.rbc.com' target=_blank>RBC

&to=http://www.alrosa.ru' target=_blank>ALROSA