Russian tycoon Roman Abramovich is in talks to buy a stake in steelmaker Evraz Group, a company official said today.
The Russian media said about 40 per cent of shares in Evraz, Russia's largest steel maker by volume, could change hands in a deal worth nearly $3 billion that could be announced as early as this week.
The Vedomostibusiness daily said Mr Abramovich had suggested that Alexander Abramov, who owns 59 per cent of Evraz, sell his shares last year.
The news comes just three days after European steel giant Arcelor said it had agreed to buy Russia's Severstal to create the world's largest steel maker in a deal that would thwart Mittal Steel's bid for Arcelor.
Analysts and industry officials have said that deal could trigger consolidation in the global steel sector.
