MOSCOW, Jan 17 - Russia's anti-monopoly watchdog has approved the creation of the world's largest aluminium producer, the largest firm in the new consortium, RUSAL, said in a statement on Wednesday.
"We have made a decision in principle to approve the deal and within two weeks we plan to complete the paperwork related to our final conclusion," RUSAL's statement quoted head of the anti-monopoly committee Igor Artemyev as saying.
The anti-monopoly comittee has not yet issued an official statement.
RUSAL, controlled by Russia's sixth richest man Oleg Deripaska, will own 66 percent in the venture, which will supply about an eighth of the world's aluminium and 16 percent of global alumina, from which the metal is made.
RUSAL's smaller Russian rival SUAL will have 22 percent and Swiss commodities trader Glencore 12 percent of the venture. The statement said the deal is expected to be closed by April 2007 after approvals by anti-monopoly authorities of a number of countries.
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