Bloomberg News

Mechel Retreats Most in Week on Kommersant License Report

April 17, 2012

OAO Mechel (MTLR) dropped the most in more than a week after Kommersant reported Russia’s Subsoil Resources Agency may pull three licenses from its Yakutugol unit.

The shares slid as much as 2.7 percent, their sharpest intraday drop since April 6, and traded down 2.2 percent at 272.10 rubles as of 10:26 a.m. in Moscow.

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

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


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