Qatar increases holding in Xstrata

Qatar Holdings, the second-largest shareholder in Xstrata after Glencore, has bought nearly £24m of shares in the takeover target. It takes its holding in Xstrata to more than 12 per cent. Qatar has been raising its stake in the miner since July, and formerly owned just less than 11 per cent of the company. The chief executive of Glencore said earlier this week that the $30bn bid for Xstrata was “not a must-do deal”.