Polyus Gold and precious metal producer Polymetal's billionaire owners are considering merging the Russian gold miners to create the world's ninth-biggest producer of the metal, two people with knowledge of the matter said, Bloomberg reports.
Management has apparently not yet been informed of the decision, the people said.
A tie-up with FTSE 100 member Polymetal would help Polyus, part-owned by Mikhail Prokhorov, gain a primary listing in the UK. That has been delayed by a Russian commission headed by Prime Minister Vladimir Putin the agency reports.
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As of 09:56am shares of Polymetal are rising by 4.1% to 1,113p.
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