Glenstrata completion date pushed back

Commodities giant Glencore has pushed back the completion date for its tie-up with rival Xstrata as it waits for regulatory approval from South Africa and China.

Last month, the miners announced the extension of the “long stop date” for the £56bn merger from 31 December to 31 January. As regulatory processes in South Africa and China are still ongoing, they have further extended the deadline to 15 March.

Completion of the merger is dependent on a green light from antitrust authorities in South Africa and China, having already received approval from European regulators.