Mechel shares tumble as bankruptcy looms

Mechel shares: Shares in the troubled Mechel mining company fell almost 40% yesterday as fears grew that it would be forced to declare bankruptcy in a final deal with creditors chasing debts of more than  $9bn. Mechel has been struggling ever since its heavy borrowing spree in the wake of the 2008 financial crisis left it dangerously exposed to dropping commodity prices. The Moscow Times