Metinvest Holding In Merger Negotiations with Smart Group?

Influential daily Kommersant reported today that Metinvest Holding and Smart Group are in merger talks. Metinvest Holding, the metals & mining arm of System Capital Management, has already introduced managers into Smart Group assets Makiyivka Steel. It was not said how advanced talks were or further details of negotiations. Metinvest’s press service did not confirm talks were taking place, but also did not refute the news. Meanwhile, in response to news reports last week that Metinvest Holding was bidding for Stelco, Metinvest issued a statement that the company has made no decision to purchase the Canadian steelmaker. However, Metinvest said that it was interested in purchasing promising steel assets in Ukraine and abroad, including Stelco.