Russia's top silver miner Polymetal confirmed on Monday its main owner, billionaire Suleiman Kerimov, was in talks with variety of possible counterparties to sell its stake in the company.
Polymetal is not a participant in these discussions and it is too early to predict their outcome. These discussions are ongoing and any or all of them may or may not lead to any transaction or transactions, a Polymetal statement said.
One person involved in the preliminary discussions is Alexander Nesis, the brother of the company's head, Vitaly Nesis, Polymetal said.
It added there was a possibility that potential bidders could each acquire parts of Kerimov's stake in Polymetal.
Russian Vedomosti business daily reported last week that Kerimov was looking for a buyer for the 74 percent stake in Polymetal, controlled by his investment company Nafta Moskva.
Vedomosti said potential buyers included businessman Alexander Nesis, Vitaly's brother, who sold the stake to Kerimov at $900 million in 2005, either alone or with a partner.
Analysts have said that potential bidders could include billionaire Roman Abramovich, who already has a stake in gold miner Highland Gold.
Polymetal, also the world's fifth-largest silver producer, was valued at $2.4 billion in a share listing on the London Stock Exchange in February last year. (Reporting by Aleksandras Budrys; Writing by Tanya Mosolova; Editing by Quentin Bryar)
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