Russian minister says supports saving Mechel with bankruptcy law one option

Russian Industry Minister Denis Manturov said on Thursday he supported returning indebted miner Mechel to financial health within the framework of bankruptcy law or by creating a managing company, RIA Novosti news agency reported.

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On Wednesday state-owned development bank Vnesheconombank (VEB) said it would not take part in a bailout of Mechel, extinguishing hopes for a convertible bond scheme that was seen as its most likely lifeline.

(Reporting by Polina Devitt; Editing by Alessandra Prentice)

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