18.02.2013 - Qatar could pour $3.5 bln into Russia’s VTB
Qatar’s sovereign wealth fund is in advanced talks with Russia’s second-largest bank VTB about injecting between U.S.$3bn and U.S.$3.5bn into the banking giant, the Telegraph reported. VTB will likely issue the Qataris with U.S.$1.5bn of new equity and US$1.5bn of mandatory convertible bonds under the structure of the deal, the daily said citing sources. The deal may be announced by next week, the paper said. VTB shares jumped as much as 3.76 percent on the report, while the overall Russian market was 0.08 percent down by 0717 GMT. VTB declined to comment on the report. Representatives for Qatar’s sovereign wealth fund were not immediately available for comment...............................................Full Article: Source
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