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Norilsk Nickel, Metalloinvest: What A “Marriage” That Would Be

Interfax reported that JSC MMC Norilsk Nickel chairman Andrei Klishas said details of the proposed merger with the Metalloinvest iron and steel group will be disclosed coming weeks

Interfax reported that JSC MMC Norilsk Nickel chairman Andrei Klishas said details of the proposed merger with the Metalloinvest iron and steel group will be disclosed coming weeks.

Metalloinvest sent a merger proposal to Norilsk Nickel in February in order to create an 80 bln usd metals and mining group.

A merger would also likely allow Norilsk Nickel to fend off a possible bid from United company Rusal.

On Tuesday Klishas said that the Interros holding, which already holds a blocking stake in Norilsk Nickel, might then seek to buy out Prokhorov.

Interros will consider the purchase "if Prokhorov produces a document confirming that his relations with UC RUSAL are at an end," Klishas said.