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Article: RUSSIA: RUSSIAN CENTRAL BANK MAY SELL VNESHTORGBANK.(Brief Article)
- Article from:
- IPR Strategic Business Information Database
- Article date:
- April 24, 2002
CopyrightCOPYRIGHT 2002 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Russian Central Bank has announced that it is considering selling its 100% stake in Vneshtorgbank, the Russian bank. Sergey Ignatyev, the Chairman of the Russian Central Bank, stated that in accordance with the banking sector's development strategy, the Central Bank should sell its stake in Vneshtorgbank before January 1st 2003. He added that the Central Bank is currently deciding between two options, the first consisting of two stages: first the Central Bank will sell 40% in Vneshtorgbank and then sell the remaining shares, whilst the second option is for the central bank to sell all the shares at once, according to Ros Business Consulting. Vneshtorgbank is one of the ...