Consortium set to increase bid for Kaz Minerals – FT By Reuters

(Reuters) – The consortium bidding for Kaz Minerals is set to increase its 3.7 billion pounds ($5.08 billion) offer for the London-listed copper miner, the Financial Times reported on Thursday.

Nova Resources, which is controlled by Kaz Chair Oleg Novachuk and metals tycoon Vladimir Kim, has until Friday to change the terms of its 780-pence-per-share cash bid, the newspaper said, citing people familiar with the situation.