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Russians 'not targeting' Anglo

Monday, Oct 30, 2006
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Knysna - The head of Russian minerals group SUAL, Viktor Vekselberg, on Sunday rejected suggestions that South African diversified miner Anglo American could be the target of a takeover bid.
"Anglo really is a big company and, today, I don't see there is any opportunity for any Russian company to do this," he told reporters in Knysna, South Africa.

"I don't really think it is possible. Maybe in the future. Who knows?" he said, after taking part in a meeting of South African President Thabo Mbeki's panel of international advisers.

The Times of London reported last week that United Company RUSAL, a merger between Russian minerals giants RUSAL and SUAL, may plan to target Anglo American.

RUSAL agreed this month to merge with SUAL and assets belonging to Swiss-based commodities trader Glencore to create a $25bn-$30bn company supplying one-eighth of the world's aluminium and 16% of its alumina.

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