April 24, 2013 / 9:26 AM / 5 years ago

VTB to part with control of Tele2 Russia in coming yr-CFO

MOSCOW, April 24 (Reuters) - Russian state-controlled bank VTB plans to cut its holding in the Russian unit of Tele2 below a controlling stake within the coming year, its chief financial officer said on Wednesday.

Herbert Moos said the bank is in talks with Russian and foreign investors to cut the stake.

The Nordic telecom operator last month struck a $3.5 billion deal to sell its Russian business to VTB and carried it out in a rapid sale process, with the deal closing within days after being announced. (Reporting by Katya Golubkova; Writing by Maria Kiselyova; Editing by Megan Davies)

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