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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Oman Fund Held Talks With Bulgaria About Corpbank Rescue

Posted on 26 June 2014

Oman’s sovereign wealth fund held talks with the Bulgarian government and central bank on Tuesday about recapitalising Corporate Commercial Bank (Corpbank), Oman’s honorary consul in Sofia told Reuters on Wednesday.
Bulgaria plans to nationalise the bank, which suffered a run on deposits last week and was subsequently taken over by the central bank, if talks with shareholders including Oman fail. That prospect looked the most likely outcome after Prime Minister Plamen Oresharski said on Tuesday that shareholders were “unlikely” to rescue the country’s fourth-largest lender………………………………………..Full Article: Source


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