{"id":15968,"date":"2012-10-29T20:09:43","date_gmt":"2012-10-29T18:09:43","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/exclusive-update-1-eu-regulators-want-glencore-concessions-on-xstrata-deal-source\/"},"modified":"2012-10-29T20:09:43","modified_gmt":"2012-10-29T18:09:43","slug":"exclusive-update-1-eu-regulators-want-glencore-concessions-on-xstrata-deal-source","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/exclusive-update-1-eu-regulators-want-glencore-concessions-on-xstrata-deal-source\/","title":{"rendered":"EXCLUSIVE-UPDATE 1-EU regulators want Glencore concessions on Xstrata deal -source"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Foo Yun Chee<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">BRUSSELS<\/span> Oct 29 (Reuters) &#8211; EU antitrust regulators have<br \/>\ntold trader Glencore to offer concessions in its zinc<br \/>\noperations to ease concerns about its planned $33 billion buy of<br \/>\nminer Xstrata, a person familiar with the matter said on<br \/>\nMonday.<\/p>\n<p><span><\/span><\/p>\n<p>The European Commission, which handles competition<br \/>\nregulation in the 27-member European Union, is currently<br \/>\nexamining the deal and has set a Nov. 8 deadline for its<br \/>\ndecision.<\/p>\n<p><span><\/span><\/p>\n<p>The EU competition watchdog told Glencore about its concerns<br \/>\non Friday and has given the world&#8217;s largest diversified<br \/>\ncommodities trader until Tuesday to come up with concessions,<br \/>\nthe source said.<\/p>\n<p><span><\/span><\/p>\n<p>Neither Glencore nor Xstrata had any comment.<\/p>\n<p><span><\/span><\/p>\n<p>The European Commission was not immediately available for<br \/>\ncomment.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts say the combined company could have 50 percent of<br \/>\nthe European market for zinc, making that a logical area of<br \/>\nconcern for regulators. Zinc is used in metal alloys, especially<br \/>\nin applications where it can prevent corrosion.<\/p>\n<p><span><\/span><\/p>\n<p>Industry analysts said the most likely concession could be<br \/>\nthe disposal of Xstrata&#8217;s San Juan de Nieva refinery in Spain,<br \/>\nthe largest zinc production unit in the world.<\/p>\n<p><span><\/span><\/p>\n<p>Another option would be for Glencore to review its offtake<br \/>\ndeal with world No. 1 zinc producer Nyrstar. The deal<br \/>\nwith the Belgian company was extended last year and is due to<br \/>\nexpire in 2018. <\/p>\n<p> (Reporting by Foo Yun Chee; additional reporting by Clara<br \/>\nFerreira-Marques; editing by Rex Merrifield and David Cowell)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details) By Foo Yun Chee BRUSSELS Oct 29 (Reuters) &#8211; EU antitrust regulators have told trader Glencore to offer concessions in its zinc operations to ease concerns about its planned $33 billion buy of miner Xstrata, a person familiar with the matter said on Monday. The European Commission, which handles competition regulation in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15968","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15968"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15968\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}