Xstrata buys 2.65 percent more Lonmin shares on market

LONDON (Reuters) - Miner Xstrata (XTA.L) bought another 2.65 percent of takeover target Lonmin (LMI.L) on the market on Wednesday after announcing plans for a $10 billion (5 billion pounds) cash offer.

Xstrata said in a statement it bought the stake at 33 pounds per share, its proposed offer price, and now had 10.68 percent of Lonmin's share capital. Xstrata had purchased about 8 percent of Lonmin on Tuesday night ahead of announcing the proposed offer.

(Reporting by Eric Onstad; Editing by David Holmes)