Kazakh wealth fund said to weigh acquisition of Kazzinc stake

ASTANA. December 25. KAZINFORM Kazakhstan's sovereign wealth fund is considering buying into metals producer Kazzinc after Glencore International AG cut a planned purchase by half this year, according to two people with knowledge of talks.

Samruk-Kazyna, as the wealth fund is known, hasn't decided on bidding for the remaining shares that Glencore doesn't hold, the people said, without giving price guidance and asking not to be identified because the talks are private. Astana-based Samruk-Kazyna didn't immediately respond to requests for comment by phone or e-mail. Kazzinc shareholder Verny Capital, in which billionaire Bulat Utemuratov is an investor, declined to comment, Kazinform has learnt from Bloomberg.

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