DUBAI/LONDON, Feb 26 (Reuters) – Qatar’s sovereign wealth fund has hired UBS to advise on a possible $3 billion investment in Russian state-controlled bank VTB, three people with direct knowledge of the matter said.
- VTB has been working on a capital increase
- Putin wants state asset sales to be held in Russia
- VTB shares down 0.2 percent
Russia’s second-biggest lender, advised by Citigroup, has been working on a capital increase to support day-to-day operations. Analysts say the Moscow stock exchange is too small to supply VTB’s needs.
Qatar Holding, widely seen as an opportunistic investor, has a history of investing in large banks in need of capital. At the peak of the global financial crisis, it invested in banks such as Barclays and Credit Suisse on terms regarded as favourable to the fund.
By Dinesh Nair and Sophie Sassard
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