4 Feb 2011 18:36

Russia to start privatizing 10% of VTB Feb 7

MOSCOW. Feb 4 (Interfax) - The placement of a federally owned stake of up to 10% in VTB Bank among Russian and foreign investors will begin on February 7, it was decided at a meeting chaired by First Deputy Prime Minister Igor Shuvalov, a spokesperson for Shuvalov said.

Merrill Lynch, Deutsche Bank and VTB Capital will collect bids following a road show by VTB managers.

Additional state-owned shares in VTB will not be sold for three months after these have been sold.