Exclusive: Glencore offers to end Nyrstar deal in Xstrata bid - source
BRUSSELS (Reuters) - Trader Glencore (GLEN.L) has offered to end an exclusive zinc sales and marketing deal with world No. 1 zinc producer Nyrstar (NYR.BR) in a bid to win EU approval for its $33 billion (20 billion pounds) takeover of miner Xstrata XTA.L, a person familiar with the matter said on Wednesday.
The source said the European Commission, which is currently examining the deal, is concerned about too much potential concentration of interests in northern Europe.
Ending the agreement with Nyrstar would free up 350,000 tonnes of zinc metal to consumers, the person said.
Glencore, which owns just less than 8 percent of Nyrstar, extended its offtake deal with the Belgian company last year until 2018.
Nyrstar could not immediately be reached for comment.
(Reporting by Foo Yun Chee; additional reporting by Robert-Jan Bartunek; editing by Rex Merrifield)
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