Qatar's sovereign wealth fund has increased its stake in Xstrata to just over 5 percent, potentially making it easier for commodities trader Glencore to purchase the Anglo-Swiss miner.The tiny Gulf Arab state, a keen commodities investor, is now Xstrata's third-largest shareholder behind Glencore and asset manager BlackRock Inc N>, giving it exposure to a metals powerhouse after missing out on other recent deals.Qatar has also bought stakes in luxury goods house LVMH and oil company Total, in a recent spending spree using its natural gas riches to diversify economic risk. It also owns shares in Credit Suisse and the upmarket Harrods department store.Several major shareholders have opposed Glencore's $41 billion bid for Xstrata but bankers said Qatar would be a passive investor, unlikely to stand in the way. The deal must be backed by 75 percent of shareholders excluding Glencore.
BlackRock, Inc. (BlackRock) is an independent investment management firm. Shares of BLK remained unchanged at $205.98. In the past year, the shares have traded as low as $137.00 and as high as $209.37. On average, 668074 shares of BLK exchange hands on a given day and today's volume is recorded at 0.
Source
