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No Bids for Otkritie

The Deposit Insurance Agency didn't get any bids for its 24.17 percent stake in Otkritie Bank, Kommersant reported, citing sources close to the lender.

The state-backed DIA received a stake in Otkritie after it partnered with the lender to acquire RBR Commercial Bank in November 2008 and VEFK Bank in April 2009. Otkritie later consolidated its banking assets into a commercial bank.

The DIA was willing to accept bids of 7.5 billion rubles ($236 million) for the stake, the report said.

(Bloomberg)

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