Glencore should consider dismantling the empire created by Ivan Glasenberg to escape from a downward spiral that has raised serious questions about its future, according to the group’s house broker.
Citigroup also warned that the company might have to be removed from the stock market, barely more than four years after it floated.
The debt-laden mining and trading group was forced yesterday to release a statement insisting that it had “absolutely no solvency issues”.
That helped its shares to recover much of the steepling losses inflicted on Monday, when the markets were gripped by fears that shareholders would be crushed by its $27 billion of debt unless commodity markets improved. The shares closed up 17 per cent at 80¼p.
The recommendation from its house broker