Commodities company Glencore International PLC said Tuesday that China is reviewing its proposed merger with Xstrata PLC with a particular focus on whether the combined company would exert influence on China’s copper market.
The Baar, Switzerland-based miner however doesn’t expect the Chinese regulatory review process to present any major problems since Glencore has already marketed most of Xstrata’s products into China and there are between 20 to 30 different companies that supply copper to China, the company’s Chief Executive Ivan Glasenberg said in an interview. Glencore and Xstrata together account for less than 10% of China’s total copper supply, Mr. Glasenberg said.
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Alex MacDonald, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/NTTBxCOMaJE/
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