Sberbank Set to Buy Troika

By The Moscow Times

Jan. 23, 2011

Sberbank is ready to acquire Troika Dialog soon to develop its own investment banking business, sources close to Sberbank said Sunday.

“There is an agreement in principle with [Troika chairman Ruben] Vardanyan,” a source close to Sberbank said.

Sberbank has been seeking to diversify its financial operations. Last month, market sources told Reuters that Sberbank had held informal talks with domestic investment banks Troika Dialog and Renaissance Capital about buying a stake. Both Sberbank chief executive German Gref and Vardanyan are expected to take part in the upcoming annual meeting of executives and politicians at Davos.

“The management board is yet to discuss the issue,” a Sberbank source said Sunday.

(Reuters)

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