The annual financial statements of Norilsk Nickel catalyzed the conflict between its shareholders

In the company «Norilsk Nickel» (largest

world’s producer of Nickel and palladium,

a leading producer of cobalt, copper,

rhodium and platinum) sparked the conflict

shareholders caused by the late

financial statements according to IFRS.

According to some sources,

the main reason for late reporting

it showed the MMC transaction with an offshore

companies. Commented

this step Lenar Hafizov — head

analytical Department of the publication

«Prime mark»: «the Use of offshore

structures in transactions complicates the establishment

the real owners, and because

the closeness of offshore install

the existence of irregularities in the transaction „Norilsk

Nickel“ and „Trafigura“ hard enough».

In connection with the continuation of the conflict between

MMC shareholders, analysts, investment

market foresee a downgrade

popularity for securities of the company.

The major shareholders of «Norilsk Nickel»

are:

• Interros holding company — 30%;
• UC RUSAL — 25%;
• «Trafigura Beheer BV» — 8%;
• Holding «Metalloinvest» — 4%.

Yesterday to closing of trading

shares of «Norilsk Nickel» has fallen to 269 $, and the index

MICEX fell by almost 0.3%. Recall

analysts Morgan Stanley (even if

maintaining the target price per share in

285 $) recommended that the sale of assets

campaign (replacing the previous recommendation

«hold» action). The Specialists Of «Morgan

Stanley» argued his forecast for

quotes the expected decline in the prices of

Nickel in the near future (9% in 2011

and 5% in the 2012th year).