News: Kazakhmys PLC (KAZ.L)

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Mon, Jun 24 2013

Top shareholder backs ENRC's $4.7 billion buyout by founders

LONDON - A $4.7 billion bid by the founders of ENRC to buy out the Kazakh miner has gained support from the board of top shareholder Kazakhmys , paving the way for the trio to take the company private after almost six turbulent years.

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UPDATE 3-Top shareholder backs ENRC's $4.7 bln buyout by founders

LONDON, June 24 - A $4.7 billion bid by the founders of ENRC to buy out the Kazakh miner has gained support from the board of top shareholder Kazakhmys, paving the way for the trio to take the company private after almost six turbulent years.

FTSE 100 hits new five-month low on China jitters

LONDON, June 24 - Britain's top share index slipped to a new five-month low in choppy trading on Monday, as concerns about the scaling back of U.S. stimulus measures and China's banking sector kept investors cautious.

Telecoms merger news props up European shares, halting market slide

* Vodafone tables 7.7 bln euro bid for Kabel Deutschland * FTSEurofirst 300 flat at 1,131.21 * U.S. stimulus, China banking worries weigh on sentiment * ENRC falls as Kazakhmys backs 3 billion pound bid By David Brett LONDON, June 24 - Merger activity in the telecoms sector halted a slide in European shares early on Monday, cushioning the market against concerns over the withdrawal of U.S. monetary stimulus and the risk of a credit crunch in China. Heavyweight

FTSE steadies in choppy trade, Kazakhmys slumps

LONDON, June 24 - Britain's top share index steadied near five-month lows on Monday, with persistent concerns over a likely reduction in U.S. stimulus measures and concern over China's banks keeping a lid on any gains.

No improvement in sight as founders hammer out ENRC buyout bid

* Offer indicated in May was for 175p in cash plus 0.231 Kazakhmys share

Kazakhmys sells German unit MKM for 42 mln euros

May 28 - Copper miner Kazakhmys said on Tuesday that it sold its German semi-finished copper products business, MKM, for 42 million euros ($54.34 million).

UPDATE 1-Miner Kazakhmys could back potential bid for rival ENRC

(Rewrites first paragraph, adds details on impact of share offer, share price, background)

UPDATE 1-ENRC details founders' $2.3 bln cash-and-share bid plan

LONDON, May 19 - Kazakhstan's government and the trio of founders behind miner ENRC, seeking to take the company private, have offered shares in rival Kazakhmys as well as cash in an indicative proposal valuing the group at just under $5 billion.

Founders offer for ENRC included Kazakhmys shares -report

LONDON, May 19 - The offer for miner ENRC made by its founding shareholders and the Kazakh government included shares in rival miner Kazakhmys, a British newspaper reported on Sunday.

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