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Polyus FTSE Move Delayed

Gold miner Polyus Gold, part controlled by tycoon Mikhail Prokhorov, said Tuesday that it had failed to win approval from the Russian government for its proposed move to London's prestigious FTSE 100 Index.

Polyus, controlled by Prokhorov and potash magnate Suleiman Kerimov, said in a statement that the government commission that evaluates potential foreign investment in Russia — and is chaired by Prime Minister Vladimir Putin — had delayed a decision on whether to approve the plans.

"Some investors will wonder whether the 'delay' is a reaction to Mikhail Prokhorov's quick entrance and exit earlier this year on the Russian political landscape," said Robert Mantse, a mining analyst at Otkritie in Moscow.

(Reuters)

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