Russia tycoon Vladimir Potanin agrees to Nornickel-Rusal merger talks

Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel PJSC, said he’s ready to discuss merging the mining giant with United Co Rusal International PJSC as sanctions against Russia weigh on both companies.

Potanin has headed Nornickel since striking a 2012 shareholder accord with aluminum producer Rusal, the company’s second-largest investor. A merger would create a “national champion,” the tycoon said in an interview with Russia’s RBC TV channel on Tuesday. Rusal shares jumped 11% in Hong Kong.

“We received the proposal from the management of Rusal to discuss the merger with Norilsk Nickel as an alternative to extending the shareholder