BCS Global Markets, one of Russia's largest securities brokers, believes that Russian oligarch Roman Abramovich's newly-acquired shareholding in Russia's largest miner Nornickel may lose value.
Abramovich's investment firm Crispian Investments acquired the 2.5% stake for $551 million on Wednesday March 13.But the oligarch's share may depreciate in value in line with expectations that nickel prices will fall, according to BCS Global Markets. "The nickel price is likely to decline on the back of an anticipated fall in steel prices [and] the 2.5% that Crispian Investment has in Norilsk Nickel...