European Investment Bank freezes lending to Glencore
The European Investment Bank has frozen all lending to Glencore because of concerns about governance at the world's largest commodities trader, in a serious setback for the company which recently listed in London, reports FT Alphaville.
Swiss commodities giant Glencore on Thursday announced this year's biggest initial public offering, saying it plans to enter the London and Hong Kong stock markets to raise between $9 billion and $11 billion.