Glencore, merger with Xstrata is close: 80 billion colossus will be born

Glencore and Xstrata are close to a merger that would lead to the birth of an 80 billion dollar giant, according to estimates by the Financial Times, which reports that negotiations are already in an advanced stage. The deal could thus conclude as early as next week. Xstrata confirmed that it had been contacted by Glencore, the Swiss commodity giant, which already owns 34% of the Swiss mining giant. In London, Xstrata shares gain 10% while Glencore 5,39%. For the commodity multinational, the operation would enable it to strengthen its mining activities in Africa and Asia.