Vedomosti business daily reported that Russian billionaire Mr Vladimir Potanin is seeking control of metals giant Norilsk Nickel as he wants to buy 25% in it from tycoon Mr Oleg Deripaska's UC RUSAL, from the current 25%.

As per report, Mr Potanin may seek a partner to buy Deripaska's stake, possibly with the owners of either potash miner Uralkali or coal miner SUEK. He had already held consultations with the government but had yet to approach RUSAL itself, which said it does not intend to sell the stake.

It may be noted that both Mr Potanin and Mr Deripaska were forced to put up their stakes in Norilsk as collateral with Russian state banks that helped them repay large foreign debts last year.

(Sourced from www.vedomosti.ru)