Norilsk Ownership May Be Clarified by Law Change, Otkritie Says

Bloomberg reported OAO GMK Norilsk Nickel (LSE:MNOD,MCX:GMKN) shareholders may have to declare their interests in the company after changes to Russian law.

As quoted in the market news:

Norilsk, the world’s largest producer of nickel, failed to identify buyers of as much as an 8 percent stake in its 2010 accounts, auditor KPMG LLP said in the producer’s annual report. Norilsk in December agreed to sell 8 percent to Trafigura Beheer BV in a deal described as “fictitious” by billionaire Oleg Deripaska, one of the nickel company’s feuding shareholders.

Click here to read the full Bloomberg report.