The board of Russian aluminium giant RUSAL on Thursday rejected Norilsk Nickel's offer to buy out 20 percent of its shares, RIA news agency said quoting sources close to RUSAL board.
Last month, Norilsk offered to buy 20 percent of its shares from RUSAL for $12.8 billion, which would leave the aluminium giant -- majority owned by tycoon Oleg Deripaska -- with a 5 percent stake. The deadline for the offer is March 4.
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