31 Oct 2013 17:18

VTB cuts Moscow Exchange stake to 3.6%

MOSCOW. Oct 31 (Interfax) - VTB has reduced its share of ordinary Moscow Exchange stock from 5.117% to 3.615%, an official statement from the bank says.

The exchange has only ordinary shares.

The VTB press service has declined to comment.

VTB signed an agreement this month to sell Societe Generale 10% of the stock in Rosbank (MOEX-ROSB). In exchange for its stake, VTB will receive from Societe Generale several Russian assets including stock in highly liquid issuers, demand rights applicable to several credits, and real estate properties.

Earlier, VTB chief Andrei Kostin said that VTB might receive Moscow Exchange stock for its Rosbank stake. Rosbank has around 3.6% of the exchange's shares.