Norilsk Nickel said it was not interested in acquiring a stake in Uralkali. The world's largest producer of nickel, Norilsk denied reports that it would be acquiring a 21.75% stake in the Russia-based potash producer. Norilsk added that it was not talking with the potash firm. The Wall Street Journal had earlier reported that the nickel firm was among the bidders of the Suleiman Kerimov-owned company.

The asset manager of Norilsk Head Vladimir Potanin, Interros, also denied that it was interested in buying a stake in Uralkali. An Interros source told Reuters that the firm was also not talking with Uralkali nor was it approached by Kerimov for the stake sale.

The Russian press had speculated that buyers had already lined up to buy the stake that billionaire Kerimov, through his foundation, held in Uralkali. Reports of the sale had caused the stocks of the potash firm to rise after falling close to 19% after quitting its joint venture with Belarus.