Norilsk Nickel to re-sell buyback shares-paper

MOSCOW, March 11 (Reuters) - Russian mining giant Norilsk Nickel (GMKN.MM) has decided to sell the same shares it recently bought back from investors at a hefty discount to the buyback price, Kommersant newspaper reported on Wednesday.

Norilsk Nickel's board approved the sale of 7.9 million shares at $45 per share, Kommersant said, citing a source close to the board.

They were bought back from shareholders at 6,167 roubles apiece ($172.6 at current rates) between October and January.

A source on the Norilsk board said management had proposed the sale after receiving an offer for the shares. It was not immediately clear who the potential buyer was.

Kommersant cited mining and banking industry sources as saying the potential buyer could be Norilsk-owned power generator OGK-3 (OGKC.MM), which has cash on its balance sheet and bought dollars and euros to hedge the rouble's fall.

OGK-3 has already bought some Norilsk shares from structures controlled by the metals giant's main owner, Vladimir Potanin, Kommersant said. (Writing by Melissa Akin; Editing by Rupert Winchester)