| From FT: Kazakhstan took over its leading bank yesterday and said it was negotiating to sell assets to Russia as the global financial crisis and depressed oil prices intensify pressure on its economy. Samruk-Kazyna, the sovereign wealth fund handling bank bail-outs, is to buy 78.14 per cent of BTA for $2.06bn (€1.6bn, £1.45bn), the government said.
The move marks a dramatic change in the Kazakh banking landscape, until now dominated by private investors. Samruk-Kazyna recently pumped $1bn into Kazkommertsbank and Halyk, the second and third biggest banks..... Full Article: Source
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