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. Last Updated: 07/27/2016

Norilsk Report Out

A Moscow think-tank has released a report blaming the current difficulties of Norilsk Nickel, mired in a dispute with strategic investor Uneximbank, on the metal giant's inefficient management.


Norilsk's management "is not capable" of conducting significant reforms, said the report, issued Tuesday by the Institute of Modern Policy. "Its qualification, mentality and the management system are below the requirements of the present task."


Uneximbank, which acquired 38 percent of Norilsk's shares last fall, has sought a shareholder meeting to revamp the firm's administration. Norilsk has challenged the move in arbitration court.


"The conflict is a typical one for the present time, when huge changes in ownership are going on," said Mark Aron, an author of the report.