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VTB Doesn’t Negotiate Purchase of 40 Percent in Renaissance Capital
VTB Group doesn’t negotiate acquisition of 40 percent in Renaissance Capital bank, VTB spokesman told RIA Novosti.
“We refute the information [about negotiating the deal] that the media reported Friday,” the VTB spokesman said.
According to Friday reports of the media, VTB Group may soon buy roughly 40 percent in Renaissance Credit (retail brand of Renaissance Capital) bank of consumer crediting. In return, VTB will undertake to secure the liquidity of at least $1 billion.
What’s more, the agreement of parties authorizes VTB to buy out the remaining share in Renaissance Credit in late 2009.
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