Xstrata shares suspended on LSE as part of Glencore merger

Xstrata's shares were suspended on the London Stock Exchange on Wednesday as part of its planned merger with Glencore.

The mining group said the suspension was approved following an application to the UK Listing Authority ahead of its merger with Glencore, which is expected to become effective on May 2nd, subject to court proceedings.

The company's shares were also suspended on the SIX Swiss Exchange from 7:00am.

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Xstrata is the world's fourth-largest producer of copper. It aims to increase output by more than 50% from 2011 levels by 2015, on the back up of projects like the $5.2bn Las Bambas mine ramp up.

A merger between the two producers would account for around 7.0% of global copper supply, which is expected to increase with mines in Australia, Peru and Chile.

RD