No Bids for Otkritie

By The Moscow Times

Aug. 14, 2012

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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