OREANDA-NEWS. September 06, 2011. UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL, MICEX: RUALR, RTS: RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, announces that the Board of Directors of RUSAL, having carefully discussed the letter received from MMC Norilsk Nickel proposing to acquire 15% of the outstanding ordinary shares of Norilsk Nickel, have unanimously resolved to reject the proposal, reported the press-centre of RUSAL.

The Board of Directors believes the proposed terms of the deal do not reflect the fundamental value of a major stake in Norilsk Nickel, which remains a strategic investment for RUSAL.