It has been reported that the Swiss company Glencore International AG is interested in participating in the auction of a controlling stake in the Russian coal producers Elgaugol and Yakutugol.
The other participants in the upcoming auction are ALROSA, Evraz Group, NLMK, Mechel, Renova and Japanese financial group Sumitomo Mitsui.
The starting price is set at $1.8 billion, which is considered by many to be too high.