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S. Africa regulator approves merger between trader Glencore & Xstrata

dpa
January 23, 2013, 4:45 pm TWN

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JOHANNESBURG -- South Africa's Competition Tribunal on Tuesday approved a planned merger between global commodities trader Glencore and international mining concern Xstrata.

The regulator will issue the full details of its decision at a later date, but ordered certain limitations on retrenchments as a result of the merger.

The deal, worth some US$33 billion, has been given provisional approval by European regulators, but China must still weigh in on the merger. Glencore says it expects the deal to move ahead in March.

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