PODGORICA (Montenegro), March 12 (SeeNews) – The Russian majority owner of Montenegrin aluminium smelter KAP has rejected a rescue deal offered by the government in Podgorica in a bid to keep the troubled company float in the first half of the year, local media reported on Thursday. The offer was turned down mainly because of “the government’s attempt to render pointless” KAP's arbitration claim filed against Montenegro and its state funds, local daily Vijesti (www.vijesti.cg.yu) said, quoting an unnamed source from the smelter's majority owner CEAC, a company controlled by Russian tycoon Oleg Deripaska.
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