For years the Swiss company Glencore has been accused of bad conditions in its mines, evasion of taxes and degrading working conditions, however, without ever being prosecuted. Now it is expanding its dominant position on the commodity markets through its fusion with the mine operator Xstrata. If the merging is authorised, Glencore will control the whole supply chain, from extracting natural resources to the transport and the sale.
Merging with Xstrata would also have advantages for Glencore’s image because the mining company is known for better social responsibility for its employees as well as for sustainability.
German shareholders of Glencore are, amongst others, Union Investment and DWS (Deutsche Bank).
More information on Glencore’s shareholders.