Jan 13 (Reuters) - Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA’s nickel business, the Bloomberg reported.
Davis's investment vehicle X2 Resources values Vale's nickel business at $5 billion to $7 billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are private. (bloom.bg/1wbhfuQ)
X2 Resources was not immediately available for comment outside business hours in London.
There has not been any formal negotiation between X2 Resources and Brazil-based Vale about the assets yet, Bloomberg said.
“We have not received any proposal or held any talks with X2 about our nickel assets,” a Vale spokeswoman told Reuters. (Reporting by Sneha Banerjee and Avik Das in Bengaluru; Editing by Don Sebastian)