Norilsk: Worth a nickel

The Russian government is taking the helm at Norilsk Nickel, after imposing a truce on the two oligarchs fighting over the future of the world’s largest nickel and palladium producer. This should allow Norilsk to concentrate on its troubled present. But it won’t be a shareholder-friendlier place. Vladimir Potanin, the company’s co-founder and 30%-shareholder, and Oleg Deripaska, the controlling owner of aluminium giant Rusal who has a 25% stake in Norilsk, have been forced to bury the hatchet. ...