Billionaire Potanin May Strengthen Grip on Norilsk After Buyback

Bloomberg reported billionaire Vladimir Potanin’s Interros Holding Co. may seek control of OAO GMK Norilsk Nickel (MCX:GMKN) after a $4.5 billion buyback.

The market news is quoted as saying,

Interros will tender its entire stake of about 30 percent in the buyback, Potanin said yesterday in an interview in Moscow. The company will then ask Norilsk to cancel the stock covered by the repurchase, he said.

For the complete market news, click here.