Glencore’s $35bn Xstrata merger postponed again

Commodities trading giant Glencore has delayed its mega-merger with miner Xstrata as it awaits the results of a competition probe by China.

China is the biggest buyer of the materials the prospective partners mine and trade, and is thought to be concerned about the effect on copper prices of the $35 billion (£23bn) deal.

The merger has been pushed back several times, with the “longstop” completion date now moving from 16 April to 2 May.