An ambitious plan to create one of the world’s biggest mining groups through the merger of up to five Russian companies has been proposed by two billionaire tycoons.
Oleg Deripaska and Vladimir Potanin, the two biggest shareholders in Norilsk Nickel, have proposed the merger as the groups seek to restructure tens of billions of dollars in debts.
The other companies include Metalloinvest, the iron ore and steel group owned by Arsenal Football Club shareholder Alisher Usmanov; Evraz Group, the steel group part owned by Chelsea Football Club owner Roman Abramovich; Mechel, another steel group; and Uralkali, the potash producer.
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