18 Feb 2011 10:38

Rusal committee to discuss Norilsk Nickel offer on Feb 21 - Deripaska

KRASNOYARSK. Feb 18 (Interfax) - A committee made up of members of the UC Rusal board of directors will examine the offer from MMC Norilsk Nickel to buy back shares on Monday, February 21, Rusal chief Oleg Deripaska said on the sidelines of the Krasnoyarsk Economic Forum.

Norilsk Nickel has offered Rusal $12.8 billion for 20% of shares in the metals giant. Deripaska has previously said that the price is too low. However, Russian billionaire Mikhail Prokhorov, who owns 17% of Rusal shares, believes the offer price is fair and should be accepted.

Rusal owns 25% of Norilsk Nickel shares. The Rusal board has set up a committee to consider the offer.

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