Glencore International Plc has again postponed the date it
expects to conclude its merger with Zug, Switzerland-based
Xstrata Plc as Chinese regulators continue to scrutinize the
The long stop date for the merger has now been set for May 2.
It was previously scheduled for March 15, then postponed until
April 16 because Chinas Ministry of Commerce had not yet
granted its approval.
Glencore believes that it has had constructive
discussions with the Ministry of Commerce of the Peoples
Republic of China and that these discussions are now in their
final stages, it said. However, Glencore does not
expect to receive the final decision from (the ministry) in
time for the merger to be completed by April 16.
Ivan Glasenberg, chief executive officer of Baar,
Switzerland-based Glencore, said last month that Chinese
regulators were investigating the merged companys
potential role in the copper concentrates market.
A version of this article was first published by AMM sister
publication Metal Bulletin.