DUBAI/LONDON Feb 26 Qatar's sovereign wealth
fund has hired UBS to advise on a possible $3 billion
investment in Russian state-owned bank VTB, two people
with direct knowledge of the matter told Reuters on Tuesday.
VTB is working on a capital increase with Citigroup,
the sources said.
"Talks are very advanced", one of the people said in regard
to Qatar's discussions with VTB. A deal could still fail on
price disagreement since Qatar Holding wants a cheap deal while
the Russian government, which owns 75 percent of VTB, is
concerned to sell down at a decent price.
Qatar Holding declined to comment. UBS and Citigroup, were
not immediately available for comment.