Eurofer Concerned About Glencore Takeover of Xstrata

Bloomberg reported Eurofer is considering filing an anittrust complaint with the EU regarding Glencore (LSE:GLEN) upcoming takeover of Xstrata (LSE:XTA).

As quoted in the market news:

Eurofer will gather data before deciding whether to file an antitrust complaint with the European Commission over the “competition implications of the merger,” Axel Eggert, Eurofer’s public affairs director in Brussels, said in an e-mail today.

Glencore, the world’s largest publicly traded commodities supplier, agreed last week to buy Xstrata. The world’s biggest mining deal may win antitrust approval because the EU said in 2006 that Glencore’s 34 percent stake in Xstrata means they are already a single group, according to analysts at Numis Corp.

Click here to read the full Bloomberg report.