Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

VTB Reaches Threshold

VTB concluded negotiations with minority shareholders in Bank of Moscow to allow it to consolidate its holding to 75 percent — the threshold to allow a record $14 billion bailout to go ahead, Interfax reported.

VTB previously had a 46.5 percent stake in Bank of Moscow.

VTB agreed to buy Russian Railways' stake in TransCreditBank in two stages, starting with 29 percent for about 16.5 billion rubles ($587 million), said Yury Novozhilov, head of the acquisition target. VTB will buy the first stake this month and the remaining 25 percent from July 1, 2012, to the end of 2013, the railway operator said Friday.

(MT, 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.

paiment methods
Not ready to support today?
Remind me later.

Read more