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South Africa: Glencore/Xstrata merger hearing postponed by Tribunal

 |  December 10, 2012

South Africa’s Competition Tribunal has postponed a planned hearing into the Glencore/Xstrata mining company merger. The hearing was scheduled to begin on Monday, but has been rescheduled to mid-January; the Tribunal did not give a reason for the postponement. Glencore is attempting to buyout Xstrata, a company in which is already olds more than a one-third stake. Several companies have been granted the right to intervene on the hearing, including coal consumer Eskom, who has risen concerns over he deal. While the Competition Commission did not find any potential harm to competition if the deal were to go through, the deal did raise concerns over the fact the parties plan to retrench some employees.

Full Content: BDLive

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