Deripaska could return to Norilsk

A billionaire shareholder in Russian aluminium giant Rusal is set to return to the board of Norilsk Nickel, in the latest sign of a possible merger.

Oleg Deripaska has been included on a list of candidates for the board, which the company shareholders are due to approve at its general meeting in June, Norilsk said in statement.

Rusal, the world’s top aluminium producer, bought a 25 per cent stake in Norilsk at the beginning of 2008 but a proposed merger never materialised as the aluminium giant struggled with debt problems during the global economic crisis.