Russian aluminum giant Rusal is unlikely to sell its 25% stake in MMC Norilsk Nickel if the blocking stake is valued at 18 billion dollars-20 billion dollars, analysts surveyed by Interfax said. A source familiar with the details of a possible offer to buy out Rusal's stake in Norilsk Nickel said that Rusal, or the shareholders of the aluminum company, has asked investment banks to appraise the 25% stake in Norilsk Nickel. This appraisal, made taking into account forecasted price increases for nickel, differs from the appraisal commissioned by Norilsk Nickel, which asked Citi, Societe Generale, Barclays Capital and TKB Capital for a fairness opinion of the price for a planned buyback, and it was carried out by other banks.
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