Qatar PM calls for a higher price for Xstrata
The prime minister of Qatar yesterday added his voice to the chorus of shareholder opposition to the proposed £57bn mega-merger between Xstrata and Glencore, calling for a higher price to be paid.
Just a few hours after Xstrata confirmed it would postpone next Thursday's shareholder vote on the merger, Sheikh Hamad bin Jassim al-Thani said he was in favour of the deal in principle but the price was far too low.
The Qatari sovereign wealth fund, which owns nearly 11 per cent of Xstrata's shares, came out against the deal last week on the grounds it undervalued the mining giant. Glencore is offering 2.8 of its shares for each of Xstrata's, but Qatar thinks it should be paying 3.25.
"Our position is firm. We look after Xstrata and all the shareholders of Xstrata, and we think it's good to merge the two companies. It will be positive for both sides, but at the right price," he said. This was the first time the prime minister has spoken about the deal.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...