Metalloinvest Said to Seek Norilsk Nickel Shares for Udokan
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Billionaire Alisher Usmanov’s Metalloinvest, Russia’s largest iron-ore producer, is seeking to swap its Udokan copper deposit for shares in OAO GMK Norilsk Nickel, according to three people familiar with the matter.
Metalloinvest, which already holds 4 percent of the world’s largest nickel producer, is in preliminary discussions with other Norilsk shareholders about the proposal, the people said, asking not to be identified because the information is private.