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UPDATE 1-Russia's Potanin open to RUSAL's Norilsk stake-source

Tue Jun 23, 2009 10:10pm IST
 
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* Potanin interested if RUSAL offers Norilsk stake-source

* RUSAL says not considering sale

* Analysts believe the chances of a deal are low

(Changes source, adds details, analysts)

By Polina Devitt

MOSCOW, June 23 (Reuters) - Russian billionaire Vladimir Potanin would be interested in buying UC RUSAL's stake in Norilsk Nickel if it was for sale, a source close to Potanin said, a deal that would give him control of the metals giant.

Potanin currently holds a 25 percent stake in Norilsk, (GMKN.MM: Quote, Profile, Research) the world's top producer of nickel and the platinum group metal palladium, while tycoon Oleg Deripaska's RUSAL holds 25 percent plus two shares.

"We are satisfied with our partnership with Deripaska and we are happy with the current share distribution in Norilsk," a source in Potanin's investment vehicle Interros told Reuters on Tuesday. "But if RUSAL's stake is offered, we will be interested."

RUSAL spokeswoman Vera Kurochkina said the Norilsk stake was a strategic investment for the firm and was not considering selling it.  Continued...

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