Bank of Moscow’s Borodin offers 3 solutions to VTB

Bank of Moscow’s President Andrei Borodin has offered Andrei Kostin, VTB chairman, three solutions to his bank’s shareholder conflict to be resolved within six days, the banker said in a letter received by RIA Novosti from London on Monday.

Borodin owns 20.3% of Bank of Moscow shares together with his advisor Lev Alaluyev.

In his first option, Borodin suggested that he sell his Bank of Moscow share to VTB for a price agreed with the buyer quickly and with no mutual claims. Documents could be prepared within 10 days.

Another option, Borodin said, could be independent assessment of his share to be sold to VTB, which would extend the process to 4-14 weeks.

The last option, he said, would be an auction.

MOSCOW, April 6 (RIA Novosti) 


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