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Norilsk Nickel to Be Melted Down

GMK Norilsk Nickel has set to preparing the merger with Gazmetall holding of Alisher Usmanov in an effort to oppose the hostile takeover by Rusal. What’s more, the firms of Alisher Usmanov have bought out 3 percent to 4 percent in Norilsk Nickel to control roughly 30 percent in it jointly with Vladimir Potanin and get an advantage over Rusal. Rusal is completing the deal to buy out 25 percent plus a stock in Norilsk Nickel from Potanin’s former partner, Mikhail Prokhorov.
The BOD of GMK Norilsk Nickel backed up past Friday the plan of actions for the merger with Metalloinvest that manages assets of Gazmetall holding, GMK Norilsk Nickel General Director Denis Morozov said specifying that UBS is the deal’s consultant but not giving the date for due diligence completion

read the rest published by Kommersant here:

http://www.kommersant.com/p862766/Usmanov_Prokhorov_Potanin_Norilsk_Nickel/