Posted on 07/14/2005 12:36:59 PM PDT by dgallo51
TONY EASTLEY: To a special investigation of the company behind Xstrata, the global mining giant bidding for the nickel, copper and uranium company, WMC Resources.
Xstrata's $8-billion takeover bid for WMC is being undermined by the reputation of its controlling shareholder, the secretive Swiss commodities trader Glencore.
Last year, a CIA report raised allegations that Glencore paid millions in illegal kickbacks to Saddam Hussein's regime.
Glencore was founded by a notorious fugitive from US justice - a man facing jail for tax fraud, racketeering, and named as an arms trader, before being mysteriously pardoned by former US President Bill Clinton.
(Excerpt) Read more at abc.net.au ...
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