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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Oil Fund of Azerbaijan refuses to participate in privatization of Bank VTB

Posted on 13 October 2016

The State Oil Fund of Azerbaijan (SOFAZ) has declined to participate in the privatization of Russia’s Bank VTB, in which it has an equity stake. SOFAZ executive director Shahmar Movsumov says that privatization of Bank VTB is scheduled for 2017.
“SOFAZ does not plan to take part in the privatization,” Movsumov added. He points out that the Supervisory Council of Bank VTB is planning to hold its meeting in Baku again. “The meeting is scheduled for 2 November,” Movsumov emphasized………………………………….Full Article: Source


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