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Prokhorov looks for BHP Billiton rival in Rusal Norilsk Nickel tie up
Published: 12 February, 2010, 18:45
TAGS: Investment, Markets, Natural resources, Russia and the global economy
Russia's richest man says he wants to see mining giants Rusal and Norilsk Nickel merge to create a "Russian BHP Billiton."
Mikhail Prokhorov, who is a former CEO and major shareholder of Norilsk Nickel, and now holds a 19% stake in Rusal, as well as being Chairman of Polyus Gold, Russia’s largest gold producer, believes a tie up between the two would see the creation of a rival to the Australian conglomerate as the world's largest resources company.
Speaking with RT Business Prokhorov indicated that he was looking to get the go ahead from all sides after past suggestions have been stymied
“We want to create a Russian BHP Billiton. A merger between Norilsk Nickel and Rusal is good not only for shareholders, but for all the country. But it's a shareholder question, a question for all the shareholders, not only majority shareholders.”
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