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Tuesday, October 3, 2023

VTB may refuse to buy shares in Yandex due to the increase in transaction costs

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VTB Bank may withdraw from negotiations to join a consortium to buy shares in Yandex. This was announced by the head of the credit organization. Andrey Kostin In an interview with Reuters.

According to him, VTB never wanted to manage Yandex, and it is important to set the entry price for portfolio investment. Kostin noted that the transaction price has increased compared to the past and the bank has put its offer at a lower level. Now the lender is in standby mode and is not actively negotiating.

“We believe that on the one hand, Yandex has good prospects, on the other hand, the company has its own characteristics,” said the head of VTB.

Earlier, Raiffeisenbank announced a 50% commission on dollar transfers from other banks to individuals. The new rules will go into effect on June 20.

Source: Riafan

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