Qatar ‘favours’ Glencore offer

Qatar was “looking in favour” on Glencore International’s proposed $33 billion (R288bn) takeover of Xstrata, after the trading firm sweetened its offer, Prime Minister Sheikh Hamad bin Jassim Al Thani said yesterday. Qatar Holding is Xstrata’s biggest shareholder after Glencore, and a Qatari recommendation could bring Glencore a step closer to combining the two Swiss commodity firms in this year’s largest takeover. – Bloomberg