RUSAL wants state to get biggest say in Norilsk

RUSAL says it wants the Russian government to take four seats on the board of Norilsk Nickel and have a bigger say in the firm than any other shareholder.

MOSCOW (Reuters) - 

UC RUSAL, the world's largest aluminium producer, said on Wednesday it wants four government officials to join Norilsk Nickel's board and have a bigger say than any other shareholder.

RUSAL has put up its 25 percent stake in Norilsk as collateral with the government against a $4.5 billion loan, a move that helped it refinance loans with Western banks.

On Wednesday, it said it also wanted three representatives from RUSAL, three independent directors and three representatives of another major shareholder, Interros, to join the board due to be elected at the next shareholders meeting in December.

RUSAL is at odds with Interros over Norilsk's management and development strategy. (Reporting by Dmitry Zhdannikov; editing by Guy Faulconbridge)

© Thomson Reuters 2008 All rights reserved

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