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CORRECTED-VTB says ready to help finance CEFC's purchase of Rosneft stake
October 13, 2017 / 5:35 PM / 2 months ago

CORRECTED-VTB says ready to help finance CEFC's purchase of Rosneft stake

(Corrects to show VTB has a 9.9 pct share in wider Otkritie holding company, not in Otkritie Bank)

MOSCOW, Oct 13 (Reuters) - Russian lender VTB is ready to help finance CEFC China Energy’s acquisition of a stake in Russian oil major Rosneft, the bank’s chief executive, Andrei Kostin, said on Friday.

Asked about providing finance for the deal, Kostin told Rossyia 24 TV station the deal did not depend on VTB’s help, “but we are ready to do it, if there is interest in that. It’s a fairly interesting deal.”

Kostin also said VTB would have to write off 7 billion roubles ($122 million) as a result of the bailout of Russia’s Otkritie Bank. VTB holds a 9.9 percent stake in Otkritie holding company.

He said it was premature to talk about VTB becoming a shareholder in Otkritie Bank once it has been rescued.

$1 = 57.2045 roubles Reporting by Anastasia Teterevleva; Writing by Christian Lowe; Editing by Elaine Hardcastle

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