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.