November 30, 2018 / 12:44 PM / 10 days ago

Russia's VTB says it could increase stake in retailer Magnit: TASS

MOSCOW (Reuters) - Russia’s second-largest lender VTB bank (VTBR.MM) does not rule out increasing its stake in Russian food retailer Magnit (MGNT.MM), TASS news agency quoted VTB First Deputy CEO Yuri Soloviev as saying in an interview published on Friday.

Earlier this year VTB sold an 11.82 percent stake in Magnit worth 62.5 billion roubles ($1 billion) to Marathon Group, reducing VTB’s holding to 17.3 percent at the time.

Reporting by Maria Tsvetkova; Writing by Polina Nikolskaya; Editing by Susan Fenton

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