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VTB in Talks on Czech Bank

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)

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