Mining: Chinese give green light to 'mega-merger'

The mining and commodities giants Glencore and Xstrata are within a whisker of consummating their £56bn "mega-merger" after China indicated that its regulator had no reason to oppose the deal.

Although it could be several weeks before approval is formally given, the officials' guidance suggest the deal will clear its last-remaining hurdle, having been waved through by investors as well as regulators in Europe and South Africa.

Last week, the companies agreed with the UK Takeover Panel to postpone the formal completion of their deal by six weeks to 15 March, to give competition authorities longer to assess the transaction.