Bank of Moscow mounts takeover defence against VTB
Bank of Moscow, Russia's No.5 bank by assets, mounted a takeover defence against state-controlled VTB on Friday by seeking to reverse a decision to propose a VTB executive as the bank's new CEO.
Russia's second largest bank, state-controlled VTB, will within a year or eighteen months sell its stake in Rosbank, a subsidiary of Societe Generale, to France's SG, participants of a meeting between VTB head Andrei Kostin and minority shareholders told RIA Novosti on Friday.