VTB, Citic join up for Russia-China investment banking

LONDON, July 12 Fri Jul 12, 2013 5:02am EDT

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LONDON, July 12 (Reuters) - Russia's VTB Capital and China's CITIC Securities have teamed up to co-operate on investment banking activities between Russia and China, with particular focus on mergers and acquisitions.

VTB Capital, part of Russia's second largest bank VTB, said on Friday it had signed a memorandum of understanding with CITIC, China's biggest listed brokerage, that will see the pair target cross-border M&A and investment opportunities.

Additional areas of cooperation include capital markets, asset management, private equity investments, research and foreign exchange operations to capture trade flows between the two countries, VTB said in a statement. (Reporting by Steve Slater; editing by Patrick Graham)

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