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Indian Bid for Alrosa Shares Spurned
Sep. 15, 2011 07:54AM PST
Gem InvestingBusiness Insider reported there is no negotiation under way and no agreement between Alrosa (RTC:ALNU) and MMTC (BOM:513377).
Business Insider reported there is no negotiation under way and no agreement between Alrosa (RTC:ALNU) and MMTC (BOM:513377).
The market news is quoted as saying,
They were responding to a string of recent press reports from Mumbai claiming MMTC has been discussing a share buy with Alrosa worth an estimated $2 billion. The last valuation of the state-owned Russian diamond miner, whch was made public by its chief executive Fyodor Andreyev in March, indicated a target range of between $6 billion and $12 billion.
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