Glencore-Xstrata deal hit by delay
COMMODITIES trader Glencore International and mining giant Xstrata have put back the deadline to complete their proposed £55billion merger as they await approval from Chinese regulators.
'Constructive' dicsussions with China are in their final stages
Glencore said “constructive” discussions with China – the biggest buyer of the materials it trades and mines – are in their final stages but it does not expect to receive a decision in time for the April 16 deadline. This has now been extended to May 2.
The merger has been pushed back several times, with Glencore saying last month China was focusing its review on the new company’s influence in the copper market.