March 14, 2019 / 9:37 AM / 6 months ago

VTB to transfer its stake in Evrofinance to Russian state - CEO

MOSCOW, March 14 (Reuters) - Russia’s state bank VTB has reached agreement to transfer its 25 percent stake in Russian-Venezuelan lender Evrofinance Mosnarbank that is under U.S. sanctions to the Russian state for free, VTB Chief Executive Andrei Kostin said on Thursday.

Two sources familiar with the deal told Reuters this week that the agreement had been reached for the transfer of VTB’s 25 percent stake in Evrofinance to the Russian state’s Federal Property Management Agency.

Kostin also told reporters that VTB might get a stake in Rostelecom itself, after agreeing to sell its stake in another phone operator, Tele2, to Rostelecom. (Reporting by Darya Korsunskaya and Tatiana Voronova Writing by Katya Golubkova Editing by Edmund Blair)

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