Kazakhmys raises stake in mining rival
Copper producer Kazakhmys has upped its stake in rival company
11 April 2012
Speculation of further deal making in the mining sector opened up today when Kazakhstan copper producer Kazakhmys said it had upped its stake in rival Eurasian Natural Resources Corporation to 25%.
Merger talks between the two earlier this year ended without a formal proposal put to investors.
Kazakhmys said in June it had no intention of making a bid for ENRC, meaning it can't launch an offer for six months from the date of the announcement according to City rules.
It already had a 22% stake but has added another 3% today, taking advantage of falls in the share price.
