Qatar Holding is targeting a "strategic minority" stake in Xstrata even if a merger with Glencore does not go through and the fund is a buyer of the mining giant at current prices, sources familiar with the matter said.
The investment arm of the tiny Gulf state's sovereign wealth fund has proved to be a stumbling block for commodities trader Glencore's proposed $30 billion takeover of Xstrata, demanding improved terms and threatening to vote against the tie-up.
The deal is on the brink of collapse after Glencore refused to raise its offer and missed an informal deadline last week.
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