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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Inheritance tax pension reforms will delay payments to grieving families and the taxmanThe government is pressing ahead with plans to charge inheritance tax on pensions but there are warnings that it will be harder for executors to administer an estate and pay HMRC
-
More than a million pensioners set to be hit by tax on savings accountsA combination of higher interest rates and frozen tax thresholds is dragging more people into paying tax on their cash savings
