13 Sep 2011 15:19

Norilsk Nickel directors green-light share buyback at $306 per

MOSCOW. Sept 13 (Interfax) - The board of directors at Russian mining giant Norilsk Nickel voted in absentia on September 13 in favor of a buyback at $306 per share and $30.6 per ADR, a company statement says.

This would involve 14,705,882 ordinary shares, representing 7.71% of company charter capital. The buyback program could cost Norilsk Nickel as much as $4.5 billion.