Miners put mega-merger to EU test

Glencore and Xstrata set the clock ticking on mining's $90 billion (£57 billion) mega-merger as the duo said they would notify the European Commission over the deal.

Once acknowledged, the Commission has 25 days to decide whether to approve, reject or probe the plan to create the world's fourth-biggest resources company.

EU competition authorities have previously considered the two sides as a single entity as commodities trader Glencore already owns more than 34% of Xstrata - enough to exercise control. But experts say it is unlikely the Commission will wave through the largest mining takeover to date.