Glencore takes bigger slice of Optimum

Johannesburg -  Glencore, the world’s largest commodity trader, said on Thursday it had raised its stake in South African takeover target Optimum Coal Holdings to 25.8% from 24.7%.

Glencore said in a statement that it had acquired about 2.5 million shares at an average price of R37.99 a share, which is more than the R34 per share that a consortium of Glencore and a company owned by its South African partner, politician-turned-tycoon Cyril Ramaphosa, had publicly offered.