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A combination photo shows the logo of Glencore (L) in front of the company's headquarters in the Swiss town of Baar and the logo of Swiss mining company Xstrata (R) at their headquarters in Zug, both taken November 13, 2012. (Michael Buholzer/Reuters)
Qatar is dodging its shareholder duty. The emirate successfully used its muscle to extract better terms from Glencore in the commodity trader’s union with miner Xstrata. But the decision to vote in favor of the merger while abstaining on a side vote on retention bonuses makes Qatar Holding seem inconsistent at best.