Alrosa Will Bid For Nizhne-Lenskove

Bloomberg reported OAO Alrosa (MCX:ALNU) will bid for OAO Nizhne-Lenskoye to gain access to alluvial gem deposits.

As quoted in the market news:

Alrosa applied to the antitrust regulator for permission to acquire Nizhne-Lenskoye from the regional government, the watchdog said today on its website. Andrey Polyakov, a spokesman for Mirny, Siberia-based Alrosa, confirmed the application.

Click here to read the full Bloomberg report.