By Foo Yun Chee
BRUSSELS, Feb 26 (Reuters) - Russian oil producer Rosneft is expected to win unconditional European Unionregulatory approval for its TNK-BP takeover bid, asource familiar with the matter said on Tuesday, taking itcloser to completing the $55 billion deal.
State-owned Rosneft is buying TNK-BP from private Russiangroup AAR and British oil company BP in two separatedeals, one of the biggest takeovers in the sector that will putit ahead of current world No. 1 Exxon Mobil.
"The European Commission is expected to clear thisunconditionally as there are no competition issues and no majoroverlaps," said the person, who declined to be identifiedbecause of the sensitivity of the matter.
The European Commission's spokesman for competition policy,Antoine Colombani, said the investigation into the takeover wasongoing. The EU competition authority has set a March 8 deadlinefor its decision. Rosneft's own timetable foresees a March 7decision.
BP declined to comment on the timing of any regulatoryapproval. "The sale is subject to regulatory approval. We expectto complete in the first half of the year," a BP spokesman said.