RUSAL wins demand for Norilsk EGM

MOSCOW, Oct 16 - The world's top aluminium company RUSAL, controlled by Russian billionaire Oleg Deripaska, won its demand for an extraordinary shareholder shareholder meeting to elect a new board, Norilsk Nickel said on Thursday. In a statement dated Oct 15 and emailed to Reuters early on Thursday, Norilsk Nickel said it had called an extraordinary shareholders meeting for Dec 26 in accordance with a demand from a RUSAL subsidiary. RUSAL controls just over 25 percent of Norilsk. Norilsk Nickel's board is chaired by Vladimir Potanin, who controls 30 percent of its shares. RUSAL has repeatedly criticised Potanin's Interros vehicle for management inefficiency. In particular RUSAL has contested Norilsk Nickel's plan to spend $2 billion buying back shares, saying its goal was to concentrate Potanin's control over the company. Source: Reuters