VTB Capital is in talks to buy up to 10 percent of Czech banking group Home Credit, Vedomosti wrote Tuesday.
The purchase would also make the bank a shareholder of Home Credit and Finance Bank, the Russian branch of Home Credit.
The purpose of the deal is to raise funds from the upcoming initial public offering of Home Credit, a part of PPF Group. The Czech banking group is planning to raise about $1 billion in an IPO in September.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
