"Xstrata, the mining group, was yesterday at the centre of further rumours relating to the £40 billion offer from the rival Vale, of Brazil. Talks between Vale and Xstrata’s main shareholder Glencore continue, but differences are thought to centre not just on price but also on Glencore’s insistence that it be allowed access to some of a combined group’s iron ore output for its own trading operations."
http://business.timesonline.co.uk/tol/business/markets/article3419938.ece