Xstrata delays merger meeting

Mining group Xstrata yesterday called off a shareholder meeting on 12 July intended to approve its £56.5bn merger with Glencore, in order to give the firms more time to smooth relations with irate shareholders. Qatar, which holds an 11 per cent stake in Xstrata, has in recent weeks been pushing management for 3.25 new shares for every Xstrata share, compared to the current plan to hand over 2.8 shares.