(BRUSSELS) - The European Commission announced the suspension Wednesday of its inquiry into a bid by British chemical group Ineos for Norwegian oil and aluminium giant Norsk Hydro's petrochemical activities.

The decision was made because the two companies have been slow in providing information, according to the EU's executive arm.

Last month Brussels opened the in-depth probe that was to take three months to complete.

A European source said the inquiry would not be resumed until the companies provided the supplementary information the Commission had requested.

The executive body gave a new target date of January 11, 2008 for its decision.

The 5.5-billion-kroner (one-billion-dollar) deal was announced in May and had been expected to be completed by the third quarter of this year.

The purchase target is Kerling, Norsk Hydro's petrochemical division, which specialises in polymers used in PVC plastics, polyvinyl chloride and caustic soda.

The group has production in Norway, Sweden and Britain and its sales reached 6.87 billion kroner in 2006.

Ineos is the third-biggest chemicals company in the world.

The Commission has expressed "serious doubts" over Ineos' hold on the British polyvinyl chloride market if the deal goes ahead.

Norsk Hydro, one of the largest aluminium companies in the world, plans to concentrate on the aluminium and hydro power sectors.

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