Mechel OAO (MTL), Russian mining and metal company, announced the decision of the company's Board of Directors to authorize the buy back of up to $100 million of ADRs representing Mechel OAO's common shares.
The company stated that the repurchases will be made in open market or privately negotiated transactions from time to time, subject to market conditions, applicable legal requirements and other factors. The buyback will be done on behalf of Skyblock Limited, Mechel OAO's 100-percent owned subsidiary.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.