Bloomberg News

Polyus Gold Climbs on Report Potanin Sold All Shares to Kerimov

April 17, 2009

OAO Polyus Gold climbed for the second time this week in Moscow trading after a Vedomosti report that billionaire Vladimir Potanin sold all of his shares in Russia’s biggest gold producer to billionaire Suleiman Kerimov.

Kerimov bought a 15 percent stake in Polyus from Potanin on April 15 after his purchase of 22 percent in March, the newspaper said, citing unidentified people familiar with the situation. Potanin’s Interros holding company and billionaire Mikhail Prokhorov’s Onexim Group are untangling their business partnership.

“The news, which we have been expecting, is positive for Polyus Gold, as it implies the final resolution of the shareholder conflict between Onexim Group and Interros,” Troika Dialog analysts Sergey Donskoy, Mikhail Stiskin and Irina Lapshina in Moscow wrote in a note today.

Polyus shares added 1 percent to 1,402 rubles at 3:48 p.m. on the Micex Stock Exchange.

To contact the reporter on this story: William Mauldin in Moscow at wmauldin1@bloomberg.net;

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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