TELETRADER News
7/5, 10:33 AM (Source: TeleTrader)
more TeleTrader news

Nornickel reconsidering RUSAL merger - chairman

OJSC MMC Norilsk Nickel (Nornickel) President and Management Board Chairman Vladimir Potanin (pictured) revealed on Tuesday that the company is ready to discuss again a potential merger with IPJSC United Company RUSAL.

Speaking in an interview with RBC, the chairman pointed out that he was against such a deal before as "we have not seen and still do not see any production synergies," noting that the two Russian metal producers' competitive advantages were different.

Potanin, who is sanctioned by the United Kingdom, added that "now other factors have appeared," namely sustainability and the "green" economy, both of which are areas where the two companies can work together.

Baha Breaking News (BBN) / MS