A number of Russian investment companies are buying the voting rights from minority shareholders in Russia's OAO Norilsk Nickel (GMKN.RS) ahead of the company's annual general meeting June 30, Vedomosti business daily reported Friday, citing unnamed investment bankers.
The paper reports that investment companies have already bought about 2.5% of the votes. The paper cites two unnamed people who indicated the buying has been done in the interests of Interros.
Interros, an investment vehicle of Russian billionaire Vladimir Potanin, who owns about 30% of Norilsk, declined to comment for the paper's report. A Rusal spokesman denied it is involved.
Norilsk is at the center of a tri-party mega-merger, which, valued at about $160 billion, may create one of the world's largest mining and metals company.
Source: Dow Jones Commodities News Select via Comtex)