Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
Onexim Group, owned by billionaire Mikhail Prokhorov has confirmed through a filing to the London Stock Exchange that the company is in talks with two potential buyers to sell part or all of its stake in Polyus Gold.
Nafta Moskva of Suleyman Kerimov, the other owner of Polyus Gold, said it may provide financial assistance to one of the potential buyers.
Yesterday, information emerged that Onexim was seeking to sell its 37.78% stake.
Nafta Moskva said it was not in any talks with Onexim regarding the purchase of the stake.
Source (Russian): Vedomosti
