The Traderszone Network

Published in TZ Latest News 29 September, 2015 by The TZ Newswire Staff

Glencore shares halt slide, broker recommends going private

Shares of Glencore (GLEN.L) halted their slide on Tuesday after losing around a third of their value on Monday, with several brokers saying worries over the commodities and mining company’s debt pile were overdone. Analysts at Citi said Glencore should even consider going private via a management buyout if the market rout continued. “In the event the equity market continues to express its unwillingness to value the business fairly, the company management should take the company private, whereby restructuring measures can be taken easily and quickly,” Citi analysts wrote in a note to clients.