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Qatar Said to Back Glencore Bid, Xstrata Bonuses

11/14/2012 | 08:16pm US/Eastern

Qatar's sovereign wealth fund is poised to back Glencore International PLC's (>> Glencore International Plc) $31.3 billion offer for Xstrata PLC (>> Xstrata PLC) as well as bonuses for some 70 managers, Bloomberg News reported Wednesday, citing three people with knowledge of the plan.

Qatar Holding LLC is Xstrata's second-largest shareholder. A spokesman for Qatar Investment Authority was not available for comment, Bloomberg reported.

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Stocks mentioned in the article : Glencore International Plc, Xstrata PLC
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