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News 59

Qatar increases stake in Xstrata

Combined impact of changes will result in a more conservative earnings profile for Xstrata over the coming three years.

QATAR Holdings, the investment arm of the Middle East country's sovereign wealth fund, has raised its stake in Xstrata as it seeks a higher offer for the thermal coal exporter from Glencore.

Qatar last Friday bought 590390 Xstrata shares for 846,88p each, raising its stake to 10,997%, it said yesterday. It was the first acquisition by the country since June 13, when it bought 160000 shares for 972,5p each.

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