December 17, 2019 / 2:44 PM / a month ago

Russia's central bank says law prohibits sale of its Sberbank stake

MOSCOW (Reuters) - Russia’s central bank said on Tuesday existing laws prohibited the sale of its stake in Russia’s largest lender Sberbank (SBER.MM) to any other entity.

Reuters cited four sources earlier on Tuesday saying that Russian officials were engaged in talks to transfer the central bank’s stake in Sberbank to another state entity.

When asked about the possible sale, first deputy chairman of Russia’s central bank Sergei Shvetsov said existing laws prohibited it.

Reporting by Elena Fabrichnaya; writing by Alexander Marrow; editing by David Evans

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