Xstrata buys Lonmin shares and ups stake to 24.9 pct
LONDON (Reuters) - Miner Xstrata (XTA.L) boosted its stake in number three platinum producer Lonmin (LMI.L) to 24.9 percent, the maximum level allowed by regulators after it walked away from making a formal bid for the firm on Wednesday.
Xstrata, which already had a 10.7 percent stake, bought 22.2 million shares at an average of 19.79 pounds each for a total of $786 million, a statement said.
(Reporting by Eric Onstad; Editing by Paul Bolding)
© Thomson Reuters 2009 All rights reserved.
Can I have one for Christmas?
The hottest toy in the U.S. this Christmas is an interactive hamster. It does not come from one of the major toy brands or from a movie but a small, seven-year-old company from Missouri. Full Coverage
UK
US
The Dubai effect