HOTLINE: Glencore to drop Xstrata in agm name-change vote

Less than a year after it bought Xstrata, Glencore is set to erase the name from its official corporate title in an agm vote next month, the company confirmed on Thursday April 17.

Less than a year after it bought Xstrata, Glencore is set to erase the name from its official corporate title in an agm vote next month, the company confirmed on Thursday April 17.

Along with the rest of the market, Hotline has long suspected that the Glencore Xstrata name wouldn't last.

As we reported back in September, the Xstrata name was nowhere to be seen on Glencore traders' business cards, and its investor presentations still featured the old Glencore logo long after the takeover.

Our suspicion that the name change was imminent piqued last week at the Cesco copper conference in Santiago, where Glencore, not Glencore Xstrata, was a prominent sponsor.

FInally, on Thursday, the London-listed trader-producer formally signalled its intention to drop the name at an agm at due to take place in Zug, Switzerland, on May 20.

So with that settled, Hotline is turning its attention to the next piece of idle gossip: does this mean Mick Davis might change the name of X2 to X1?

editorial@metalbulletin.com

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