November 28, 2017 / 10:10 AM / in a year

Russia's VTB CEO says loan talks with China's CEFC ongoing

MOSCOW (Reuters) - Talks between Russian bank VTB and China’s CEFC on a loan to the Chinese company seeking to buy a stake in Russian oil company Rosneft are ongoing, VTB Chief Executive Andrey Kostin told reporters on Tuesday.

VTB Chief Executive Andrei Kostin (front) in Sochi, Russia October 12, 2017. REUTERS/Maxim Shemetov

“The geography of the talks is quite wide,” Kostin said. CEFC agreed in September to buy a 14.2 percent stake in Rosneft from a consortium of Glencore and the Qatar Investment Authority in a deal valued at more than $9 billion (£6.76 billion).

Reporting by Polina Nikolskaya; writing by Katya Golubkova; editing by Dmitry Solovyov

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