Norilsk Nickel Will Cancel 10 Percent Of Shares

Reuters reported Norilsk Nickel (LSE:MNOD) in an attempt to balance power it plans to cancel 10 percent of its shares held in treasury by next April.

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.

Zakharova is also a deputy chief executive for legal issues at Interros, the holding company of Russian billionaire Vladimir Potanin, the largest Norilsk shareholder with a stake of 28 percent.

Click here to read the full Reuters report.