23 Jul 2012
(MENAFN) Qatar Holding has increased its already second largest stake in Xtrata to 10.997 percent, Reuters reported.
Qatar spent just under USD7.8 million to buy an extra 590,390 shares in the miner, according to a regulatory filing.
Commodities trader Glencore, which is the largest shareholder in Xtrata with 34 percent stake, is seeking to build a mining and trading powerhouse by merging with Xstrata.
Glencore made a USD26 billion takeover offer for Xtrata. However, Qatar, which was expected to support Glencore, surprised the market last month by demanding an improved offer.
Glencore and Qatar are currently locked in talks.
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BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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