Glencore extends Xstrata merger deadline

Lengthy antitrust regulatory processes in China and South Africa have forced commodities trader Glencore to delay the date for completion of its tie-up with miner Xstrata until the end of January.

South Africa's competition authorities have postponed hearings on the $33bn (£20bn) deal until 18 January, after the parties asked for more time to prepare.

Glencore said yesterday its "long stop date" was now 31 January, a month later than previously planned.