PAO TMK (MISX:TRMK) is now the favorite to buy Public Joint Stock Company "Chelyabinsk Pipe-Rolling Plant" (MISX:CHEP) or ChelPipe. RBC reported that a deal for TMK to buy ChelPipe might take place in March 2021 or April 2021. The possibility of pipe industry consolidation was discussed in earnest 2020.

A possible M&A deal involving Andrei Komarov's ChelPipe, which dropped plans for an IPO last spring, was being talked about. At the time, JSC "ZAGORSKY PIPE PLANT" (ZTZ) and TMK were said to be among the prime candidates to buy ChelPipe. One option on the table was to form an alliance with TMK in which control of ChelPipe would not be lost, industry sources told Interfax.

Another source confirmed the parties were in talks, saying that TMK was looking to buy ChelPipe but "the companies could not come to an agreement." Sources said at the time that ZTZ, which "negotiated more aggressively," was also a candidate to buy ChelPipe assets. ZTZ is not considering M&A as a scenario to grow the business, the company said, without making further comment. TMK and ChelPipe declined to comment.