Polyus, Polymetal Owners Shelve Merger Plan, Vedomosti Says

The owners of Russian gold producers Polyus Gold International Ltd. and Polymetal International Plc shelved a plan to merge the companies, Vedomosti reported today, citing people it didn’t identify.

The idea is about 10 years old and the shareholders may reopen talks at a later date, the Moscow-based newspaper said.

Billionaires Mikhail Prokhorov and Suleiman Kerimov jointly control about 78 percent of Polyus Gold. Polymetal owners include Czech billionaire Petr Kellner and Russia’s Alexander Nesis.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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