Quotes of Kazakhmys fell by 5.9% after the announcement saying that the company did not receive an offer from ENRC

/INTERFAX, London, March 13, 08/ - Quotes of copper Kazakhmys Plc Corporation fell by 5.9% on market opening in London after the announcement, saying that the company has not received any offer of a possible merger deal from the raw material Eurasian Natural Resources Corporation Plc (ENRC) holding. Shares of the company are traded on LSE at the level of 16.75 pounds. A probable deal is estimated by the participants of the market at 8bn. pounds (about $16bn.) By the results of trades on Wednesday, after ENCR announced that it examines the opportunity of the deal with Kazakhmys, and that the holding's representatives conducted informal meetings with the top management of the copper company, quotes of Kazakmys jumped up by 16% and closed at the level of 17.8 pounds. By the results of the session, ENRC securities cheapened by 3.2% - down to 9.49 pounds. As British The Times writes, the ENCR' deal of acquiring the copper Kazakhmys will not be possible without its approval by the Chairman of the Board of directors and general director of Kazakhmys, who own about 55% of the corporation. In the opinion of the analysts, the merger deal of the two companies may take placed in future, but the position of government of Kazakhstan who is a minority shareholder in both corporations has not been known yet. As it was announced, Kazakhmys owns 14.6% of ENRC shares that placed 21.3% of shares (taking into account options) on London stock exchange and raised 1.5bn. pounds. ENRC securities rose in their price by 50% after the listing, conducted a little bit more than two months ago. ENRC consolidated assets of such enterprisers as Kazchrome, Aluminum of Kazakhstan, Kazakhstan electrolysis plant, Zhayremskiy ore mining and processing combine, Sokolovsko-Sarbayskoye ore mining and processing production union, Eurasian Energy Corporation and also ENRC Logistics и ENRC Marketing & Sales. 24.8% shares of ENRC belong to government of Kazakhstan. Kazakhmys is one of the biggest producers of copper in Kazakhstan; in 2005 it floated shares on London stock exchange on behalf of registered in Great Britain Kazakhmys Plc. holding. Kazakhmys has four production entities: "Zhezkazgantsvetmet", "Balkhashtsvetmet", "Vostoktsvetmet", "Karagandatsvetmet", and also oil and gold mining divisions. [2008-03-13]