Rusal seeks to dissolve Norilsk Nickel board

Dec 23, 2010 | 10:33 AM |

United Co. Rusal has called for the dissolution of the MMC Norilsk Nickel board after Trafigura's recent purchase of American depositary receipts (ADRs) equating to an 8-percent stake in the Russian nickel company.

The news comes amid speculation that Norilsk will attempt to buy back Rusal's 25-percent stake in the company.

The deal was agreed without Norilsk board approval, in violation of corporate governance standards, Rusal said Thursday, expanding on concerns raised in an initial response to the announcement.....

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