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Qatar set to increase Xstrata stake – report

Qatar Investment Authority (QIA) plans to increase its stake, currently at 8.5%, in global mining firm, Xstrata to at least 10% and could go higher, The Financial Times has reported, citing people familiar with the matter. The Gulf country is the second largest investor in Xstrata behind commodities trader Glencore International, which has agreed a $37bn takeover of the miner, due for completion in the third quarter of 2012. The share increase could make it potentially easier for Qatar to mount a blocking vote against shareholders opposed to the merger, the report said.