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Shrewd Glencore will skew FTSE 100 away from UK

Source: Financial Times, 4th May 2011

One lesson that Glencore chief executive Ivan Glasenberg learnt in his early career as a coal trader is that you should never squeeze too steep a price from a buyer that you plan to do business with again. That is reflected in the range for the May 24 flotation of the Swiss-based commodities group. At a mid-price of 530p a share this values Glencore at $61bn (£37bn) following an issue of new shares.



Read the full article on FT.com
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