OREANDA-NEWS. October 13, 2011. OJSC MMC Norilsk Nickel ("Norilsk Nickel" or the "Company") has received a letter from the Federal Antimonopoly Service of the Russian Federation ("FAS") concerning transactions in shares of Norilsk Nickel, reported the press-centre of Norilsk Nickel. 

The FAS letter states that FAS has become aware of the approval by the Board of Directors of Norilsk Nickel of the offer by Norilsk Nickel Investments Limited  to purchase ordinary shares and American Depositary Shares ("ADSs") of Norilsk Nickel constituting in the aggregate 7.71% of the share capital of Norilsk Nickel.  FAS further informed Norilsk Nickel that, pursuant to the Federal Law of the Russian Federation No. 57-FZ ''On Procedures for Foreign Investments in Companies of Strategic Significance for National Defence and Security'' (the "Strategic Investments Law"), transactions aimed at the acquisition by a foreign investor or a group of persons of shares of a strategic subsoil user are subject to prior approval by the Government Commission on Monitoring Foreign Investment in the Russian Federation (the Company notes that this requirement applies only where a foreign investor or a group of persons already has or will as a result of consummation of a transaction have a right to dispose of 10% or more of the voting shares in the strategic subsoil user).

The Company believes that completion of the offer to purchase announced on September 28, 2011 (the "Offer") will not violate the Strategic Investment Law and does not intend to, and will not, acquire and hold 10 per cent or more of the voting shares in Norilsk Nickel as a result of the Offer.

The letter received from FAS does not prohibit the Company from continuing with the Offer and the Company intends to continue accepting tenders pursuant to the terms of the Offer.

Moreover, the Company would like to draw attention of the shareholders to the fact that the State Duma of the Russian Federation is considering the law draft  prepared by the Government of the Russian Federation amending the Strategic Investments Law (№503176-5), which provides for increase from 10 to 25% of the threshold of participation of foreign investors which necessitates the prior approval of the Government commission on Monitoring Foreign Investments in the Russian Federation.