Rusal rejected the proposal of Norilsk Nickel about buy-back

UC Rusal, announced that the Board of Directors of Rusal, having carefully discussed the letter received from MMC Norilsk Nickel proposing to acquire 15% of the outstanding ordinary shares of Norilsk Nickel, have unanimously resolved to reject the proposal. The Board of Directors believes the proposed terms of the deal do not reflect the fundamental value of a major stake in Norilsk Nickel, which remains a strategic investment for Rusal.