SocGen agrees to buy rival VTB's stake in Rosbank

PARIS Mon Oct 7, 2013 2:21am EDT

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PARIS Oct 7 (Reuters) - French bank Societe Generale said it had agreed to buy Russian rival VTB's 10-percent stake in Russian lender Rosbank, bringing SocGen's stake in Rosbank to 92.4 percent.

SocGen, which in exchange is selling unidentified "Russian assets" to VTB, did not disclose the terms of the deal. It said the transaction would have a limited impact on its core Tier 1 capital ratio. (Reporting by Lionel Laurent, Editing by Natalie Huet)