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An auction of stock in mining and smelting giant has been cancelled after investors refused to pay a starting price higher than the market average, Interfax reported Monday.
But after calling off the sale the Murmansk City Property Fund said it planned to hold another auction soon.
Stock was being offered at 32,000 rubles ($6.50) per share, higher than the market price of under 30,000 rubles.
Norilsk Sale Called Off
04 April 1995
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