Opposition from Qatar’s sovereign wealth fund to the terms of the planned merger between Glencore and Xstrata merger has brought the $65bn deal to the verge of collapse.
The Qatari fund’s move shows the extent to which big sovereign funds, many from emerging markets, have begun flexing their muscles, and of the influence they may now exert on big developed nation corporations.
The Qatar Investment Authority owns 10 per cent of Xstrata and has several similar stakes in some of the world’s biggest companies.
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