Norilsk Nickel Plans To Cancel 10 Percent Of Its Shares

Reuters reported Norilsk Nickel (LSE:MNOD) will cancel 10 percent of its shares by mid-April 2013 in an effort to re-balance power.

As quoted in the market news:

The cancellation of treasury stock accumulated in a series of share buybacks is expected to be finished by April, one month later than previously expected, Norilsk board member Marianna Zakharova told Reuters via email on Thursday.