The Modular Multilevel Converter (MMC) is nowadays an attractive technology. However, due to the power pulsation in each MMC single phase unit it requires big DC capacitors. This work presents a control strategy for a 3-phase AC/DC Asymmetric Alternate Arm Converter with MMC arms in the lower side and only standard ON-OFF valves in the upper side. The topology operation principle is explained, a control strategy to demonstrate its operation is developed and a preliminary evaluation of the topology losses is carried out. Results confirm good operation of the suggested topology. Moreover, a sort of interleaved operation is proposed in order to reduce the DC link ripple current resulting from the converter control strategy.