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Norilsk Ownership May Be Clarified by Law Change, Otkritie Says
Nov. 21, 2011 01:09PM PST
Base Metals Investing 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.
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.