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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (11000)	11/29/2007 10:37:35 AM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Russian oligarch seeks $15 bln for Norilsk Nickel bid, Times of London reports marketwatch.com Russian oligarch Vladimir Potanin is struggling to raise over $15 billion from London investment banks to mount a takeover bid for OAO Norilsk Nickel, U.K. newspaper The Times reports Wednesday. Potanin has also contacted hedge funds and mining companies, including Rio Tinto Ltd., for funds to take over the world's largest nickel producer by the end of the year, but is struggling to generate sufficient interest, the paper says. Bankers told The Times that it was doubtful Potanin would raise the money. Potanin has first refusal on the 25% stake in Norilsk of Mikhail Prokhorov, who is selling out. If Potanin fails to raise sufficient funds, Prokhorov has agreed to sell his stake to United Co. Rusal, Russia's largest aluminum and alumina producer.