Regulator to audit Norilsk Nickel

Wed. September 24, 2008; Posted: 06:40 AM

Moscow, Sep 24, 2008 (RosBusinessConsulting via COMTEX) -- NLKNY | Quote | Chart | News | PowerRating -- The Federal Financial Markets Service (FFMS) has requested Interros to provide information for an audit of Norilsk Nickel's shareholder structure, a source close to the regulator told RBC today. The demand was made at UC RUSAL's request. As reported earlier, UC RUSAL declared that it was necessary for the FFMS to carry out a detailed analysis of the Russian mining and metallurgical company's shareholder structure in order to see if there were any law violations and protect the rights of Norilsk Nickel minority shareholders. UC RUSAL believed that Interros had seized control of more than 30 percent of Norilsk Nickel shares without making an offer to minority shareholders on share buyback in violation of their rights and the Russian law.

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