Russia's state bank Sberbank will buy private investment bank Troika Dialog for over a billion dollars, a report said Thursday.Troika Dialog has been valued by the two sides of the deal at $ 1.25 billion, said Vedomosti daily, citing unnamed sources. Sberbank will first purchase 80 percent of the bank with the rest acquired in two to three years, it said.Some sources indicated to RIA Novosti news agency on Wednesday evening that a deal has already been signed but will not be made public due to Sberbank's privatisation plans for 2011.
Sberbank of Russia and Troika Dialog have signed a memorandum of understanding to combine the largest bank in Russia with the leading investment bank in Russia. Sberbank’s leading position as a provider of financial services will be enhanced by the expertise Troika Dialog offers in corporate finance and financial markets. Sberbank’s customers will therefore be [...]
On September 16th 2014 Vladimir Yevtushenkov, the president and principal shareholder of AFK Sistema, was accused of money-laundering and placed under house arrest by a Moscow court. It is unlikely that the arrest is part of a co-ordinated strategy to revise the relationship between the state and business. Rather, the affair marks an opportunistic attack by a faction within the elite seeking to take control of AFK Sistema's assets.
By Megan DaviesMOSCOW (Reuters) - Russia's second-largest bank VTB has joined Sberbank in saying it would halt new lending in Ukraine, underlining concerns over financial risks due to political turmoil in Kiev.Ukrainian President Viktor Yanukovich was driven from power over the weekend after months of upheaval sparked by his decision to spurn deals with the European Union and improve ties with Russia. While the country has an interim leader, a new government is yet to be formed.
By Justin Grant:We've all heard about Apple (AAPL) and its momentous rise, as well as the accompanying fortunes that were made for those brave enough to stomach the risks or insightful enough to foresee the opportunities.