Russian authorities are considering transferring a stake owned by state-controlled Otkritie bank in the country’s second-largest lender, VTB (VTBR.MM), to state development bank VEB, three sources familiar with the discussions told Reuters.
The deal, if it went ahead, would fit in with a broader move in Russia’s banking sector and economy, where once privately-held assets are being transferred to state entities that are taking on a more powerful role in the economy.
