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Glencore files EU antitrust notice for Xstrata deal

  • Glencore has formally notified the European Commission of its $33 billion plan to take over Xstrata, according to sources familiar with the matter.

    Once the notification is acknowledged by the Commission, the regulator will have 25 days to decide whether to approve, reject or launch an in-depth probe into plans to create the world's fourth biggest miner.

    The two companies still require approval from China's Ministry of Commerce in order for the deal to be finalized.