Take context from the input text and decide on the accurate relationship between 'Xstrata' and 'Glencore' from the options provided.
Options: owned by, business division, developer, position held

Mining and trading company Glencore Plc (Xetra: A1JAGV - news ) , former Xstrata Chief Executive Officer Mick Davis' X2, and British investment firm Audley Capital (Other OTC: CGHC - news ) were among the first round of bidders, sources told Reuters in June.
owned by