Bulgaria speaks to shareholder Oman about Corpbank rescue | GulfNews.com:
"Bulgaria’s finance minister spoke to the head of Oman’s sovereign wealth fund on Friday about help for Corporate Commercial Bank and said the government now hoped to engineer a private rescue rather than a state bailout of the failing bank.
Corpbank, was forced into the control of Bulgaria’s central bank in June after depositors unnerved by reports of shady deals by the bank’s main owner withdrew more than a fifth of its total deposits. A subsequent audit showed activities at the bank “incompatible with the law and good banking practices” according to the central bank.
A shareholder rescue was Prime Minister Plamen Oresharski’s first proposal for the bank, but he said it looked unlikely after Russia’s VTB bank, which owns just under a tenth of Corpbank, declined to provide more money."
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