Oil Report

Russia's Kerimov plans to sell Polymetal- report

MOSCOW, May 16 (Reuters) - Russian billionaire Suleiman Kerimov, majority owner of Russia's top silver miner Polymetal PMTLq.L, is planning to sell the company, a newspaper reported on Friday.

Vedomosti business daily quoted unnamed sources close to Kerimov as saying that the businessman was looking for a buyer for the 74 percent stake in Polymetal, controlled by his investment company Nafta Moskva.

Vedomosti said potential buyers included Russian businessmen Alexander Nesis, who sold the stake to Kerimov at $900 million in 2005.

Polymetal, also the world’s fifth-largest silver producer, was valued at $2.4 billion in a share listing on the London Stock Exchange in February last year. (Reporting by Tanya Mosolova; Editing by Andrew Callus)