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Usmanov’s Metalloinvest to Buy Norilsk Shares, Seek Merger

Russian billionaire Alisher Usmanov said his Metalloinvest holding company plans to acquire shares in OAO GMK Norilsk Nickel on the stock market as he seeks a merger of the country’s biggest metals producers.

“The board of Metalloinvest recently approved a plan to buy Norilsk shares,” Usmanov said by telephone, without specifying the size of the proposed purchase. Usmanov already holds a 4 percent stake in Norilsk, which will be transferred to Metalloinvest during the year, he said.