MOSCOW/LONDON (Reuters UK) - Metalloinvest, the Russian miner founded by billionaire Alisher Usmanov, is in talks to merge with Kazakh miner Kazakhmys KAZ to gain access to the London stock market, sources close to the talks said on Monday. Shares in Kazakhmys rose more than 6...
LONDON (Reuters UK) - Kazakh copper producer Kazakhmys KAZ said on Monday it was in preliminary talks about a possible merger, but did not identify the party. "The discussions are at a very early stage and, consequently, there is no certainty as to the terms and...
The London-listed miner Kazakhmys is in talks to merge with Metalloinvest, run by the Russian oligarch Alisher Usmanov, in a move that could lead to an approach for its rival Kazakh miner Eurasian Natural Resources Corporation ENRC. The merger has little chance of gaining approval by the Kazakh government, however,...
WORLD MARKETS The FTSE 100 fell for a third day in a row as commodity stocks weighed, though miner Eurasian Natural Resour-ces rose on market talk of a merger with rival Kaz-akhmys. The blue-chip gauge closed down 50.3 points, or 0.86 per cent, at 5,827.3 - its...
WORLD MARKETS Stocks fell 0.7 per cent to end lower for a fifth consecutive session, drag-ged into the red by the oil and mining sectors. Acquisition activity added some spark, with miner Eurasian Natural Resour-ces jumping 2.9 per cent after Kazakhmys said it would raise its stake....
Less than a month after Kazakhmys rejected a "derisory" takeover offer from ENRC, the FTSE 100 miner has turned the tables by increasing its stake in its erstwhile suitor, stoking fresh speculation about the forging of a Kazakh national mining champion. Kazakhmys yesterday agreed to buy 7.7...
Maintains Ownership and Operation of Generation and Distribution Businesses in Eastern Kazakhstan ARLINGTON, Va. -- The AES Corporation (NYSE: AES) today announced it has completed the sale of its interest in the AES Ekibastuz power plant and Maikuben coal mine in Kazakhstan to Kazakhmys PLC for gross proceeds...
WORLD MARKETS The FTSE 100 slid 1.5 per cent to end its worst week since early February as miners and oil shares weighed, though Cable & Wireless rose on upbeat broker views. The blue-chip gauge closed down 94.3 points at 6,087.3, for a weekly loss of 3.4...
WORLD MARKETS The FTSE 100 closed 2.9 per cent lower - down 184.9 points at 6,191.6 - for its biggest one-day fall since mid-March, as investors dumped overheated mining stocks. Antofagasta, BHP Billiton, Rio Tinto, Anglo American, Xstrata, Vedanta Resources, Kazakhmys, Lonmin and ENRC lost between 4.5...
MARKET REPORT It was a grim day on the FTSE 100 yesterday as mining company shares, which were hit by profit-taking following Monday's record run and by analysts' calls for a correction, fell by the wayside. Wiktor Bielski, a Morgan Stanley analyst, who has...
MARKET REPORT A new note from Credit Suisse took Kazakhmys to a record high of 1,966p yesterday. The broker raised its target price for the stock to 2,700p, citing the added value borne by the company's foray into power generation, and by its stake...
Business News IN BRIEF *The Kazakh miner ENRC brought an abrupt end yesterday to one of the odder takeover dances seen on the FTSE 100 when it said that it would not make an offer for rival Kazakhmys, two days before a "put- up or shut up"...
After failure of deal to create a national champion, Robert Friedland sets sights on exploiting the high gold price to raise $200m Robert Friedland, the Canadian billionaire, has appointed three banks led by Credit Suisse to organise a London and Toronto float for a Kazakhstan gold mine...
MARKET REPORT Late rumours of an impending advance by the Eurasian Natural Resources Corporation catapulted Kazakhmys to first place on the FTSE 100 yesterday. Kazakhmys shot up by more than 10 per cent, or 176p, to 1,914p after traders cited speculation that ENRC was...
MARKET REPORT Renewed strength in the price of metals failed to lift Eurasian Natural Resour-ces Corporation yesterday as market speculation suggested that Kazakhmys was looking to offload its stake in the company. Last month, the UK Takeover Panel imposed a 16 May "put up...
WORLD MARKETS European shares ended flat, as vague merger and acquisition chatter supported miners, while consolidation hopes helped propel British Airways higher. Major continental European stock markets were closed for the Labour Day holiday. Despite falling metal prices, Kazakhmys, Xstrata and Anglo American gained between 1.3 and...
WORLD MARKETS The FTSE 100 fell more than 1 per cent as economic concerns pulled down banking and mining shares, but bid talk buoyed hotel and coffee-shop chain Whitbread. The blue-chip index slipped 63.9, or 1.1 per cent, to 5,831.6 for its fifth successive decline. Among miners,...
Business News IN BRIEF *The Kazakh mining group Eurasian Natural Resources ENRC must announce any intention to make an offer for the Kazakh copper major Kazakhmys by 5pm on 16 May, the Takeover Panel said yesterday. Kazakhmys said it welcomed the panel's ruling...
THE WEEK AHEAD The Eurasian Natural Res-ources Corporation, or ENRC as its better known around the market, has fast become one of the most watched mining stocks in London. Its share price has soared, from an offer price of 540p at the IPO in Dec-ember last year...
Articles 2008-04-07
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