"Qatar’s sovereign wealth fund will become the main purchaser in VTB’s secondary public offering, buying $1 billion of the available $3.3 billion shares. It may prove to be a difficult shareholder for Russia’s second largest lending bank.
The Sovereign Fund of Qatar is aiming to secure a business partnership in order to develop new joint projects. After the purchase it will control 5 percent of the bank’s shares, according to Financial Times, which stated sources close to the deal.
The Russian government currently holds 75.5 percent of the bank, and has mandated that its stake remains above 60 percent. VTB expects the Kremlin stake to fall to 60.93 percent.Some Russian analysts are skeptical about business relations with the Qatar Foundation, which has a reputation for being a difficult banking partner."
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