Rumors of an Anglo Gold Ashanti Buyout Makes Headlines

Russia’s Polyus Gold has reportedly approached Anglo American to buy its £2.25 billion ($4.4 billion) stake in another mining company AngloGold Ashanti, the U.K. Sunday Times reports.

If it happens, it would turn Polyus, which is preparing to list its shares on the London Stock Exchange, into one of the world’s most powerful gold producers. Polyus has indicated it would like to buy part or all of its stake, according to the published report. Anglo American owns 41.8 percent of AngloGold Ashanti.

The Times said one possible option is that Polyus would take a minority stake in an enlarged company

The newspaper did not reveal its sources. Reuters reports that an unnamed source close to Polyus said the rumor is “total nonsense.”

Anglo Gold Ashanti is a global gold company with 21 operations on four continents, a substantial project pipeline and an extensive, worldwide exploration program. It is listed on the New York, Johannesburg, Ghanaian, London, and Australian stock exchanges, as well as the Paris and Brussels bourses.