LONDON, July 12 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)