Support The Moscow Times!

Norilsk Approves Buyback

Norilsk Nickel, whose board approved a buyback of shares Monday, won't repurchase stock from minorities if United Company RusAl accepts the offer, according to Larisa Zelkova, a Norilsk board member from Interros Holding.

If 25 percent shareholder RusAl rejects the buyback proposal, Norilsk will make the offer to minorities on the same terms, Zelkova said. The final terms of the offer will be decided in 10 days, the mining company said in a statement.

Vladimir Potanin's Interros controls 30 percent of Norilsk Nickel. Metalloinvest owner Alisher Usmanov has 4 percent but plans to increase his stake to 5 percent.

(Bloomberg, Interfax)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.