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EU to back Glencore/Xtrata merger

22.11.12 @ 09:19

  1. By EUOBSERVER

The EU's competition arm is today set to clear the way for a €70 billion merger between extractive firms Glencore and Xtrata. With shareholders having already backed the deal, EU competition chief Joaquin Almunia conditioned his support for the merger on Glencore giving up contracts for zinc smelting firm Nyrstar.