MOSCOW, July 27 (Reuters) - Bank of Moscow MMBM.MM shareholder Vitaly Yusufov said on Wednesday he has entered into a preliminarily agreement to sell his stake to Russia’s second-largest lender, VTB (VTBR.MM).
“I preliminarily agreed that I am ready to sell the stake if VTB is ready to buy it out,” he told reporters.
Last week, Vedomosti daily quoted sources saying that VTB had offered to buy out a stake in Bank of Moscow controlled by Vitaly Yusufov for $1.25 billion.
The newspaper also quoted a source close to Yusufov as saying he was prepared to sell for $1.6 billion.
VTB in February paid $3.7 billion to buy a 46.5 percent stake in Bank of Moscow from the city, as well as a blocking minority stake in an insurer that owns a further 17 percent in the lender.
Reporting by Oksana Kobzeva; writing by Vladimir Soldatkin; editing by Alfred Kueppers