Russia: VTB and NuMetal still competing for Essar Steel
NuMetal and its key shareholder Russian bank VTB have not abandoned the idea of buying bankrupt Indian smelter Essar Steel, VTB CEO Andrei Kostin announced on October 5. Bloomberg reported that India’s Supreme Court ruled on October 4 that the entire soured debt of affiliates of participants in the auction for the steel asset must…