Qatar to Increase Xstrata Stake Before Vote, Sunday Times Says

Qatar Holding LLC will continue to raise its stake in Xstrata Plc as it seeks a higher offer for the mining company from Glencore International Plc (GLEN), the Sunday Times reported, without saying where it got the information.

Qatar boosted its ownership of Xstrata to 11.7 percent as of Aug. 17, the newspaper said. Qatar Holding may be able to block Glencore’s offer for Xstrata in a Sept. 7 vote with a 12 percent stake, the Sunday Times said, citing bankers it didn’t identify.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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