Login/Register

Evraz puts forward the idea of a merger with Severstal

Company News

Evraz puts forward the idea of a merger with Severstal

Tue, 13 December 2011
Evraz Quote more

Price: 95.45

Chg: 0.55

Chg %: 0.58%

Date: 17:13

FTSE 250 Quote

Price: 15,989.64 Chg: -92.60 Chg %: -0.58% Date: 17:10

The chairman of Russian steelmaker Evraz, Alexander Abramov, would support a merger with its Russian rival Severstal, according to the content of an interview published in today’s Financial Times.

A combination of both businesses, which would have a market capitalization of £12bn, was described by Mr. Abramov as, “a good idea,” while adding that such a ‘tie-up’ would have several advantages.

Mr. Abramov owns 24% of the business, while another 35% belongs to Roman Abramovich.

As of 9:55AM shares of Evraz are falling by 2.9% to the 345.25p mark.

AB

FTSE 100 Top Risers

Name Last Chg.% Time
Associated British Foods 2,962.00 8.82 17:15
Admiral Group 1,408.00 3.30 17:13
Bunzl 1,654.00 2.35 17:13
AstraZeneca 4,042.50 2.08 17:15
Randgold Resources Ltd. 4,700.00 2.06 17:01

FTSE 100 Top Fallers

Name Last Chg.% Time
Antofagasta 796.50 -5.68 17:15
Centrica 330.60 -4.15 17:13
Hargreaves Lansdown 1,197.00 -4.01 17:15
Sports Direct International 797.00 -3.98 16:59
Old Mutual 196.00 -3.92 17:15