Investor consortium ready to buy Bank of Moscow share from VTB

Bank of Moscow’s embattled CEO Andrei Borodin said a few investors, including Russian, were ready to join a consortium to buy out the bank’s shares from VTB, the banker said on Wednesday.
A fight for control over Bank of Moscow has been going on since February, when Russia’s second largest bank, state-controlled VTB announced a gradual acquisition of Bank of Moscow.
The Moscow city government sold its stake in the bank to VTB for $3.65 billion after President Dmitry Medvedev fired then Mayor Yury Luzhkov last fall.
“We have our own sources and investors who are ready to join a consortium with us,” Borodin said.
Borodin, an ally of Luzhkov, also said he was ready to sell his joint-ownership of a 20.3% stake in Russia’s fifth lender to the VTB bank based on a market capitalization of $6 b…

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