Support The Moscow Times!

RBS Can’t Buy Moscow Arm

Royal Bank of Scotland Group’s bid for control of its Moscow affiliate was rejected by  regulators because the lender is controlled by the British government, the Federal Anti-Monopoly Service said.

The law prohibits foreign governments from controlling licenses to operate encrypted online banking services, the competition watchdog said in an e-mailed response to Bloomberg questions Monday.

RBS, based in Edinburgh, applied for permission to increase its stake in ZAO Royal Bank of Scotland to 100 percent from 38.3 percent, the service said. The British government owns 68.4 percent of Royal Bank of Scotland Group. 

(Bloomberg)


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more