9 Jun 2011 14:44

Regulator clears Yusufov to consolidate 49.9% in Bank of Moscow

MOSCOW. June 9 (Interfax) - The Federal Antimonopoly Service (FAS) has cleared Cyprus-registered Losanp Trade Ltd to purchase an additional 30.08% of shares in Bank of Moscow , which would raise the company's stake in the bank to 49.99%, the FAS said.

The FAS report indicates Losanp currently owns 19.91% of Bank of Moscow shares. That matches the size of the stake Vitaly Yusufov announced he had purchased from former Bank of Moscow chief Andrei Borodin. In addition, Losanp initiated an extraordinary meeting of the bank's shareholders in order to elect Yusufov's representatives to the board of directors.

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