Dec 18, 2006

Russia Polyus Eyes Foreign Merger

Top Russian gold miner Polyus Gold (PLZL.RTS: Quote, Profile , Research), which is due to list on the London Stock Exchange on Monday, will consider a foreign merger. Polyus, which produces 18 percent of Russia's gold, has said it plans to create by 2015 a company with market capitalisation of $14 billion to $16.5 billion (7 billion to 8.4 billion pounds) and net annual cash flow of $600 million to $710 million. The firm was spun off this year from Russian mining giant Norilsk Nickel.

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