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Potanin, Prokhorov Decide Against Splitting Up Assets

 Russian billionaires Vladimir Potanin and Mikhail Prokhorov decided against splitting their jointly held assets, including stakes in OAO GMK Norilsk Nickel, the world’s largest producer of nickel, and OAO Polyus Gold.Their ZAO KM-Invest holding company said its shareholders “unanimously voted against liquidating” a fund managing assets owned by both men, KM-Invest said in an e-mailed statement today.

Potanin and Prokhorov have been seeking to break up their business empire for more than a year. Further efforts to split up KM-Invest may turn into a lengthy and costly legal battle, which neither billionaire wants, said Dmitry Smolin, a metals and mining analyst at Moscow-based UralSib Financial Corp.

read the rest published by Bloomberg here:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anAdh06Oq8Pk