Otkritie valuation nearing completion, CBR to discuss price with buyer shortly

MOSCOW. Oct 28 (Interfax) - The Banking Sector Consolidation Fund (BSCF) MC, an entity of the Central Bank of Russia (CBR), has not yet received a report on valuating the shares of Otkritie Bank , which is being prepared for sale, and the CBR plans to hold discussions soon with the buyer regarding the price of the asset, Central Bank Governor Elvira Nabiullina said at a press conference on Friday following the meeting of the regulator's board of directors.

Otkritie is expected to be sold to VTB Bank .

"In terms of Otkritie, the valuation is nearing completion. The BSCF MC has not yet formally received a valuation report, though even if it does, we will not comment on the valuation indicators. We will of course discuss the price with the buyer. (...) In any case, we intend to complete the transaction by the end of the year, so the discussions in the near future will of course be based on the appraiser's assessment," Nabiullina said.