AN ARMENIAN ENTREPRENEUR INTENDS TO SELL 30% OF VTB BANK SHARES
Yerevan, August 23. ArmInfo. Renowned Armenian entrepreneur Mikhail
Bagdasarov intends to sell 30% of VTB-Armenia bank, which belong
to him.
In an interview to ‘Haykakan Jhamanak’ newspaper he stated that at
present he considers 2 possible ways of selling the shares. By the
first one the shares will be purchased by the Russian Vneshtorgbank,
owner of the remaining 70% VTB shares. His intention Mr. Bagdasarov
explained by resigning the office of the Head of VTB-Armenia Bank
Council. Recently on that post was elected the vice-president of
Vneshtorgbank.
According to ArmInfo analysis, Mikhail Bagdasarov is rather
dissatisfied with the passive and instable stance of the VTB-Armenia
bank in the Armenian market. At the same time the Russian side has
already invested $15-20 million for the development of the former
Armsavingsbank. By the end of the first half of 2006 the authorized
capital stock of the bank equaled $18 million.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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