Deals
China Studying Glencore’s Copper Trading Delays $35 Billion Deal
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Glencore International Plc, awaiting approval for its $35 billion takeover of Xstrata Plc, will resume talks in coming days with China’s competition regulator on the influence the group will have in the copper market.
“We have been marketing Xstrata tons into China anyway in the past, so it’s not a big increase which is under the control of Glencore,” Chief Executive Officer Ivan Glasenberg, 56, said yesterday in a phone interview. “The Chinese are sort of getting their grips around it and we will await the outcome.”