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Glencore and Xstrata merger close to collapse

Qatar Holdings, the second largest shareholder in global miner, Xstrata, has said it was unhappy with Glencore's $30bn takeover of the miner, and demanded better terms, The Telegraph has reported. Qatar's sovereign wealth fund said that while it saw "merit in a combination of the two companies, it is seeking improved merger terms." One source close to the merger was quoted by the daily as saying: "That's it - the terms will definitely change. It is what we are now expecting. The Qataris are very cleverly using their leverage."