24 Jan 2011 18:36

Vekselberg says waiting for Norilsk Nickel buyout offer

MOSCOW. Jan 24 (Interfax) - Viktor Vekselberg, chairman of the board of directors at UC Rusal, said he was waiting for MMC Norilsk Nickel to make an offer to buy the aluminum company out.

UC Rusal owns a blocking stake in Norilsk Nickel.

"I, as chairman of the board of directors, am waiting for a formal offer from Norilsk Nickel," Vekselberg told reporters, adding that "we don't back the price [of $12 billion] that has [already] been offered."

Rusal itself still denies it is interested in selling out as its investment in Norilsk is strategic. "We don't intend to sell," the company's press office said.