SOFIA, June 24 Existing shareholders in
Corporate Commercial Bank (Corpbank) are unlikely to
inject capital into the lender, Bulgarian Prime Minister Plamen
Oresharski said on Tuesday, signalling Corpbank would likely
need a state rescue.
A run on Corpbank last week prompted Bulgaria's central bank
to take control of the country's fourth largest lender, freeze
its operations and start rescue talks with shareholders.
A Bulgarian businessman owns just over half of the company,
Oman's sovereign wealth fund has around 30 percent and VTB
investment arm VTB Capital owns 9.1 percent. The government has
given them until Friday to commit funds to a capital increase,
else it will likely be rescued with state money. VTB on Tuesday
announced it had no plan to inject capital into Corpbank.
"After an estimate of the assets and the liabilities, the
law requires the current shareholders be asked to cover the
shortage and ensure liquidity," Oresharski told reporters.
"This is something we doubt will happen, obviously the whole
society doubted it. That is why there were tensions and that led
to the plan that we presented to you."
(Reporting by Angel Krasimirov and Tsvetelia Tsolova; Editing
by Matthias Williams and Alison Williams)